CNCT AC ENG ECONOMY ed.:8
CNCT AC ENG ECONOMY ed.:8
17th Edition
ISBN: 9781259680328
Author: Blank, Leland;Tarquin , Anthony
Publisher: MCG
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Chapter 1, Problem 59APQ
To determine

Calculate the interest rate.

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A small minority firm TheGlobalTrans invested $100,000 for an intersection signal innovation project. At an interest rate of 15% per year, compounded bimonthly, what is the bimonthly income required to recover the investment in 2 years.
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