What is the effective annual rate of interest if $1200.00 grows to $1500.00 in two years compounded semi-annually? The effective annual rate of interest as a percent is %. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)
What is the effective annual rate of interest if $1200.00 grows to $1500.00 in two years compounded semi-annually? The effective annual rate of interest as a percent is %. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 7P
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