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Please need help. asap Joe, Henry, and Noela, after graduating together, started a business with a $25,000 investment from their parents. For the first two
Please need help. asap
Joe, Henry, and Noela, after graduating together, started a business with a $25,000 investment from their parents. For the first two years, they were charged interest at 5.75% compounded monthly, but no payments were required during that period. For the next five years, they would make payments of $560 at the beginning of every month, and the interest rate would be changed to semi-annual compounding. a.) What is the value of the annuity at the end of the deferral period? b.) What is the nominal annual rate of interest compounded semi-annually? Correct to exactly 4 decimal places. c.) What is the effective annual rate of interest? Correct to exactly 4 decimal places
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