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Fatma is quoted a nominal interest rate of 9.15% per annum compounded every four months on her investment of $1,200, the effective rate per annum is:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Fatma is quoted a nominal interest rate of 9.15% per annum compounded every four months on her investment of $1,200, the effective rate per annum is:

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