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A bank makes a package of three loans to a small business. Find the bank's annual effective yield on each of these loans individually. (
A bank makes a package of three loans to a small business. Find the bank's annual effective yield on each of these loans individually. Round your answers to three decimal places.
a$ amortized monthly for ten years at a nominal discount rate of convertible monthly. b$ to be repaid by monthly sinking fund payments for ten years where interest is assessed at a rate of nominal convertible monthly and the sinking fund earns nominal interest convertible monthly. The bank receives the sinking fund deposits. c$ to be repaid with interest at the end of ten years with an effective rate of discount of throughout the ten years. dFind the bank's annual effective yield on the package of loans over the tenyear period. Round your answer to three decimal places. ANSWERS: abcd please show work without using excel
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