Question
a. Determine the annual effective rate (two decimals) equivalent to i(2) = 7% ; i(4) = 8% and i(365) = 12%. b. What simple interest
a. Determine the annual effective rate (two decimals) equivalent to i(2) = 7% ; i(4) = 8% and i(365) = 12%.
b. What simple interest rate is equivalent to i (365) = 8%, if money is invested for 3 years?
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Fundamental Accounting Principles
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
20th Edition
1259157148, 78110874, 9780077616212, 978-1259157141, 77616219, 978-0078110870
