6. Determine the equivalent interest rate compounded semi-annually of the rate of interest 11.5% compounded annually. Round your answer to the nearest hundredths (2 decimal places).
6. Determine the equivalent interest rate compounded semi-annually of the rate of interest 11.5% compounded annually. Round your answer to the nearest hundredths (2 decimal places).
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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