The bank offers loans at 10 per annum compounded
The BANK offers loans at 10% per annum, compounded semi-annually
Therefore the bank's Effective Annual Rate = 10.25% (EFF)
Customer A negotiated a $10,000 loan to be repaid monthly over 5 years.
How much is the monthly installment (payment)?
Expected delivery within 24 Hours
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the bank offers loans at 10 per annum compounded semi-annuallytherefore the banks effective annual rate 1025
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