Question
You make payments of $3000 quarterly for 10 years to your bank. Assuming an interest rate of 3% per year compounded monthly, find: 1 -
You make payments of $3000 quarterly for 10 years to your bank. Assuming an interest rate of 3% per year compounded monthly, find:
1 - The effective quarterly interest rate
2 - The principal
3 - The quarterly interest rate
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Governing Global Finance
Authors: Michele Fratianni, Paolo Savona
1st Edition
1138742147, 978-1138742147
