Question
What is the nominal annual rate of interest compounded monthly on a lease valued at $23,700.00, if payments of $6200.00 are made at the beginning
What is the nominal annual rate of interest compounded monthly on a lease valued at $23,700.00, if payments of $6200.00 are made at the beginning of every six months for 2 years?
The nominal annual rate of interest is ____%.
(Round to two decimal places as needed.)
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Public Finance In Canada
Authors: Harvey Rosen, Beverly George Dahlby, Roger Smith, Jean-Francois Wen, Tracy Snoddon
3rd Canadian Edition
0070951659, 978-0070951655
