A financing company charges 1.5% every two months on a loan. Find the equivalent effective rate of interest. Group of answer choices 9.34% 10.34% 11.34% 12.34%
A financing company charges 1.5% every two months on a loan. Find the equivalent effective rate of interest. Group of answer choices 9.34% 10.34% 11.34% 12.34%
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
Related questions
Question
A financing company charges 1.5% every two months on a loan. Find the equivalent effective rate of interest.
Group of answer choices
9.34%
10.34%
11.34%
12.34%
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