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A lender is quoting a rate of 20%, compounded semi-annually for a 60-month loan of $50,000. A borrower needs to make 60 monthly payments.
A lender is quoting a rate of 20%, compounded semi-annually for a 60-month loan of $50,000. A borrower needs to make 60 monthly payments. What is the monthly interest rate (holding period rate) called EMR for the loan?
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
