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Basics of Engineering Economy 2nd Edition by Anthony Tarquin,Leland Blank
Edition 2ISBN: 978-0073376356Basics of Engineering Economy 2nd Edition by Anthony Tarquin,Leland Blank
Edition 2ISBN: 978-0073376356 Exercise 15
Armstrong Fisheries took out a $400,000 loan. Clyde Armstrong wants to know the semiannual payment for the next 10 years at the loan interest rate of 8% per year compounded quarterly.
a. Construct the cash flow diagram and indicate the compounding period and payment period. What is the compounding frequency for the quoted loan rate
b. What are the effective interest rate and n value that must be in the ( A/P , i %, n ) ctor to find the semiannual payment
a. Construct the cash flow diagram and indicate the compounding period and payment period. What is the compounding frequency for the quoted loan rate
b. What are the effective interest rate and n value that must be in the ( A/P , i %, n ) ctor to find the semiannual payment
Explanation
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Nominal interest rate is the interest ra...
Basics of Engineering Economy 2nd Edition by Anthony Tarquin,Leland Blank
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