Del Pilar wants to know the effective interest rate of his 310,000 bank loan with interest of 11% compounded quarterly. Find the effective rate. Althea has a loan of 190,000 at ordinary interest of 8% if the amount of interest is 3,800 what would be the the time period of the loan in one year?

Del Pilar wants to know the effective interest rate of his 310,000 bank loan with interest of 11% compounded quarterly. Find the effective rate. Althea has a loan of 190,000 at ordinary interest of 8% if the amount of interest is 3,800 what would be the the time period of the loan in one year?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 18P

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Question

Del Pilar wants to know the effective interest rate of his 310,000 bank loan with interest of 11% compounded quarterly. Find the effective rate.
Althea has a loan of 190,000 at ordinary interest of 8% if the amount of interest is 3,800 what would be the the time period of the loan in one year?

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