What semiannually compounded rate and effective rate of interest are being charged on a $12,000 loan if semiannual payments of $1204.55 will repay the loan in seven years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
|
j = % compounded semiannually |
f = % effective rate |
Get Answers For Free
Most questions answered within 1 hours.