Question
If the effective annual rate of interest is known to be 8% on a debt that has semi-annual payments, what is the annual percentage rate?
If the effective annual rate of interest is known to be 8% on a debt that has semi-annual payments, what is the annual percentage rate? Enter your answer as a percentage rounded to 2 DECIMAL PLACES. Do not include the percentage sign in your answer.
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Practical Financial Management
Authors: William R. Lasher
4th Edition
0324260768, 9780324260762
