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Consider a $100,000 loan with a 4yr term and an amortization term of 300 months with semi-monthly payments (6 payments per year).The loan is compounded
Consider a $100,000 loan with a 4yr term and an amortization term of 300 months with semi-monthly payments (6 payments per year).The loan is compounded semi-monthly and carries an interest rate of %1.76916.What is the equivalent nominal interest rate if the loan has quarterly payments and has the same effective rate?
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