4. Find the effective rate of interest if the nominal rate is 12 % compounded bi - monhtly.

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
5th Edition
ISBN:9781305084766
Author:Saeed Moaveni
Publisher:Saeed Moaveni
Chapter20: Engineering Economics
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4. Find the effective rate of interest if the nominal
rate is 12 % compounded bi - monhtly.
Transcribed Image Text:4. Find the effective rate of interest if the nominal rate is 12 % compounded bi - monhtly.
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