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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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