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What effective annual interest rate corresponds to the following situations? nominal interest rate of 5% compounded semi annually nominal interest rate of 6% compounded monthly nominal interest rate of 7% compounded quarterly a. b. с.

What effective annual interest rate corresponds to the following situations? nominal interest rate of 5% compounded semi annually nominal interest rate of 6% compounded monthly nominal interest rate of 7% compounded quarterly a. b. с.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What effective annual interest rate corresponds to the following situations? nominal interest rate of 5% compounded semi annually nominal interest rate of 6% compounded monthly nominal interest rate of 7% compounded quarterly а. b. c. How much should Engr. Fernandez deposit now, if after 12 years, this will amount to Php 120,000. Interest rate is 12% compounded semiannually?
Transcribed Image Text:What effective annual interest rate corresponds to the following situations? nominal interest rate of 5% compounded semi annually nominal interest rate of 6% compounded monthly nominal interest rate of 7% compounded quarterly а. b. c. How much should Engr. Fernandez deposit now, if after 12 years, this will amount to Php 120,000. Interest rate is 12% compounded semiannually?
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