Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
12th Edition
ISBN: 9781285850030
Author: Eugene F. Brigham, Phillip R. Daves
Publisher: Cengage Learning
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Chapter 15, Problem 6P
Summary Introduction

To determine: New external equity needed by company to expand its business as planned.

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What monthly compounded interest rate would Second National Bank need to pay on savings deposits to provide an effective rate of 6.2%?
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Do not answer with assuming any value.
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