An amount of $35,020 was accumulated after 6 years of payments of $2,117 25 at the beginning of every 6 months Find the corresponding interest rate as a percentage with 2 decimals, e g , 9 87 a) What is the monthly compounded nominal rate Mode N P Y Rate b) What is the effective rate A

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An amount of $35,020 was accumulated after 6 years of payments of $2,117 25 at the beginning of every 6 months  Find the corresponding interest rate as a percentage with 2 decimals, e g , 9 87 a) What is the monthly compounded nominal rate  Mode N  P Y  Rate   b) What is the effective rate  A

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An amount of $35,020 was accumulated after 6 years of payments of $2,117.25 at the beginning of every 6 months. Find the corresponding interest rate

An amount of $35,020 was accumulated after 6 years of payments of $2,117.25 at the beginning of every 6 months. Find the corresponding interest rate as a percentage with 2 decimals, e.g., 9.87 a) What is the monthly compounded nominal rate? Mode N= P/Y= Rate = b) What is the effective rate? A

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