The amount owed on a promissory note for $950 after two years and five months is $1165.79.

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The amount owed on a promissory note for $950 after two years and five months is $1165.79. What monthly compounded nominal rate of interest was charged on the debt?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:32 AM

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The amount owed on a promissory note for $950 after two years and five months is $1165.79.

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Given PV 950 FV 116579 n 12 2 512 29 FV PV ...View the full answer

Business Mathematics In Canada

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