In calculating an effective semi-annual rate from an interest rate 1.5% per month, the value of r and m in the effective interest rate equation are:

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
ChapterP: Prerequisites
SectionP.9: Modeling With Equations
Problem 2E
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In calculating an effective semi-annual rate from an interest rate 1.5% per month, the value of r and m in the effective interest rate equation are:

 

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