Answered: 4. Find the effective rate of interest…

Engineering

Civil Engineering

4. Find the effective rate of interest if the nominal rate is 12 % compounded bi - monhtly.

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 1P

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4. Find the effective rate of interest if the nominal
rate is 12 % compounded bi - monhtly.

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