Essay
Note: The calculations for this question were done using Excel's RATE function.
A vacation property valued at $62 000.00 was bought for 40 payments of $2150.00 due at the beginning of every six months. What nominal rate of interest was charged?
Correct Answer:
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Nper 40
Pmt -2150.00
PV 62000....View Answer
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Correct Answer:
Verified
Pmt -2150.00
PV 62000....
View Answer
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