Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question
For the investment situation below, identify the annual interest rate, the length of the investment in years, the periodic interest rate, and the number of periods of the investment.
8% compounded bi-monthly for 10 years
What is the annual interest rate?
Expert Solution
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Step 1
Given,
rate =8%
years = 10
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