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Question: Client is borrowing $20,000 today and paying principal and interest in one year at 12% nominal interest rate. What is the amount of repayment

Question: Client is borrowing $20,000 today and paying principal and interest in one year at 12% nominal interest rate. What is the amount of repayment in one year with different compound interest frequencies.

Effective interest rate

annual

amount of repayment

Interest compounded Weekly

Interest compounded Monthly

Interest compounded Quarterly

Interest compounded Semi Annually

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