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Given a 2-year 6-months loan with a periodic interest rate of 0.70% compounded monthly, determine a) Number of compounding periods per year, b) Nominal interest
Given a 2-year 6-months loan with a periodic interest rate of 0.70% compounded monthly, determine
a) Number of compounding periods per year,
b) Nominal interest rate.,
c) Term of the loan.
d) Number of compounding periods for the term of the loan.
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