Question
You took out a loan with an effective annual interest rate of 10 percent. What is the equivalent semi-annual (6 month) interest rate on this
You took out a loan with an effective annual interest rate of 10 percent.
What is the equivalent semi-annual (6 month) interest rate on this loan? Note: I don't want the APR, I want the EPR (the actual 6 month interest rate).
What is the equivalent 18-month interest rate on this loan? Enter your answer as a percentage rounded to two decimals. Note: I don't want the APR, I want the actual 18-month interest rate.
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Financial Management Principles And Practices
Authors: Timothy J. Gallagher
9th Edition
1954156103, 978-1954156104
