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Author Question: Suppose a bank offers to lend you $20,000 for one year at a nominal annual rate of11.55%, but you ... (Read 71 times)

sreghbsidhgjbndskijgnio

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on: Aug 7, 2023
Suppose a bank offers to lend you $20,000 for one year at a nominal annual rate of11.55%, but you must make interest payments at the end of each quarter and then pay off the $20,000 principal amount at the end of the year. What is the effective annual rate on the loan?

◦

12.06%


◦

12.63%


◦

11.59%


◦

10.65%

Financial Management: Theory and Practice ¦ Brigham, Ehrhardt, Gessaroli, Nason ¦ 4th Edition
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Marked as best answer by sreghbsidhgjbndskijgnio on Aug 7, 2023

Spike8502

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Reply #1 on: Aug 7, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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sreghbsidhgjbndskijgnio

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Reply 2 on: Aug 7, 2023
Thanks for the timely response, appreciate it

yeungji

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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