Use the given annual interest rate r and the compounding period to find i, the interest rate per compounding period. 5.45% compounded monthly -% per month (Type an integer or decimal rounded to the nearest thousandth as needed.)

Use the given annual interest rate r and the compounding period to find i, the interest rate per compounding period. 5.45% compounded monthly -% per month (Type an integer or decimal rounded to the nearest thousandth as needed.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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Finance

Use the given annual interest rate r and the compounding period to find i, the interest rate per compounding period.
5.45% compounded monthly
=% per month
(Type an integer or decimal rounded to the nearest thousandth as needed.)

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