menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Mathematics
  3. Study Set
    Business Mathematics Study Set 1
  4. Exam
    Exam 9: Compound Interest: Further Topics and Applications
  5. Question
    If an Interest Rate of 6
Solved

If an Interest Rate of 6

Question 51

Question 51

Short Answer

If an interest rate of 6.9% compounded semiannually is charged on a car loan, what effective rate of interest should be disclosed to the borrower?

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q46: Calculate the missing interest rate (to the

Q47: For three successive years, an investment paid

Q48: A bank offers a rate of 5.3%

Q49: What quarterly compounded rate is equivalent to

Q50: Rounded to the nearest month, calculate how

Q52: Marilyn was supposed to pay $1,450 to

Q53: At 11.4% compounded quarterly, how long will

Q54: Calculate the effective annual rate for 9.4%

Q55: At what annually compounded interest rate will

Q56: Banks usually quote residential mortgage interest rates

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines