You bought a 100 used guitar and agreed to pay for it with
You bought a $100 used guitar and agreed to pay for it with a single $120 payment at the end of 6 months. Assuming semi annual (every 6 months) compounding,
A) Calculate the nominal interest rate
B) Calculate the effective interest rate
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you bought a 100 used guitar and agreed to pay for it with a single 120 payment at the end of 6 months assuming semi
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