Find The Effective Rate When The Stated Rate Is 13.5% And The Interest Is Compounded Semiannually?
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asked 6 months ago
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(1 + 13.5%/2)2 = 1.06752 = 1.13955625 = 1 + .13955625 = 1 + 13.955625%
The effective rate is 13.955625%
The effective rate is 13.955625%
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