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Mr. Mohammed has an investment which has a nominal interest rate of 16% p.a. required: Compute the effective annual interest rate if interest is received:
Mr. Mohammed has an investment which has a nominal interest rate of 16% p.a. required:
- Compute the effective annual interest rate if interest is received:
- Semi annually
- Quarterly
- After every four months
- Monthly
- Weekly
- The amount of money invested is Sh. 100,000. It is invested for over 4 years. Compute the future value of this investment in relation to cases (i) to (v) in (a) above.
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Millon Cornett, Otgo Erhemjamts
11th International Edition
9781266138225
