MATLAB: An Introduction with Applications

6th Edition

ISBN: 9781119256830

Author: Amos Gilat

Publisher: John Wiley & Sons Inc

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Question

Compute the periodic rate and interest in the first period for a $2 comma 6002,600 loan with 6.56.5% APR for the following periods.

a. Monthly

b. Daily (use a non-leap year)

c. Quarterly (4 times a year)

d. Biweekly (every 2 weeks)

a. The periodic rate is nothing ____%.

(Type an integer or decimal rounded to three decimal places as needed.)

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