Question
You took out a loan with an effective annual interest rate of 10 percent. Required: (a) What is the equivalent semi-annual (6 month) interest rate
You took out a loan with an effective annual interest rate of 10 percent. Required: (a) What is the equivalent semi-annual (6 month) interest rate on this loan? 3.9% incorrect (b) What is the equivalent quarterly (3 month) interest rate on this loan? 9.65% incorrect (c) What is the equivalent 18-month interest rate on this loan? 15.52% incorrect
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett, Otgo Erhemjamts
10th Edition
1260013820, 978-1260013825
