Eric loans nick 9000 at a nominal effective interest rate 6


Eric loans Nick 9,000 at a nominal effective interest rate 6% convertible semi-annually (twice per year). The loan is to be repaid by (end of ) monthly payments of 200, (except for a slightly reduced final payment). How much does Nick owe Eric after one year?

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Financial Management: Eric loans nick 9000 at a nominal effective interest rate 6
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