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Simple Interest Rate Assignment | Homework For You

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June 8th, 2020

a. The monthly simple interest is 0.5%. What is the yearly simple interest rate?Homework For You

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b. The nominal monthly rate is 0.5%. What is the annual effective interest rate?

c. Jonathan borrow $1, 450 for one year at a discount rate X. He has the use of an extra $1, 320. Find X and the annual interest rate that this is equivalent to.Get Finance homework help today

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