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Two commercial banks offer your firm different interest rates for the 10-year term loan used to finance your logistics warehouse development project. CBA offers
Two commercial banks offer your firm different interest rates for the 10-year term loan used to finance your logistics warehouse development project. CBA offers you a current variable rate of 5.095% compounded semi-annually, while ANZ offers you a current variabl rate of 4.99% compounded daily. (Assume 365 days in a year. Round your answer to four decimal places) (a) What is the effective rate offered by CBA? % (b) What is the effective rate offered by ANZ? %
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a To calculate the effective rate offered by CBA we need to use the formula Effective ...
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
