Asked by Anonymous
Find the total number of compounding periods and interest rate per period.
Terms investment: 6years, nomial rate: 18%, interest compounding :monthly, compounding period________, rate per period %_______
* i need to figure out the compounding period & rate per period%
Terms investment: 6years, nomial rate: 18%, interest compounding :monthly, compounding period________, rate per period %_______
* i need to figure out the compounding period & rate per period%
Answers
Answered by
Steve
18% compounded 12 times per year give
1.5% per month.
So, 6 years = 72 months.
1.5% per month.
So, 6 years = 72 months.
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