Essay
Note: The calculations for this question were done using Excel's RATE function.
A property worth $15 000.00 is purchased for 10% down and semi-annual payments of $1750.00 for twelve years. What is the effective rate of interest if interest is compounded semi-annually?
Correct Answer:
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Nper 24
Pmt -1750.00
PV 15000....View Answer
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Correct Answer:
Verified
Pmt -1750.00
PV 15000....
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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