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How do I solve for this in step by step process, and then how do I insert it into excel? Including the effects of compounding,
How do I solve for this in step by step process, and then how do I insert it into excel?
| Including the effects of compounding, a loan requires 13.5% total interest over the course of a year. If interest compounds 4 times per year, what is the annual percentage rate of the loan? | ||||||||||||
| You may round your answer to the nearest tenth of a percent. | ||||||||||||
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Foundations Of Financial Management
Authors: Stanley B. Block, Geoffrey A. Hirt, Bartley R. Danielsen
13th Edition
0073382388, 978-0073382388
