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    Nominal,effective interest rates, monthly payments

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    Questions about nominal and effective interest rates, monthly payments, refinancing fees.

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    © BrainMass Inc. brainmass.com June 3, 2020, 6:03 pm ad1c9bdddf
    https://brainmass.com/business/annuity/nominal-effective-interest-rates-monthly-payments-45882

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    a. The Nominal Rate is 9% p.a.
    For calculating the effective rate, the formula is ((1+nominal rate per ...

    Solution Summary

    The solution explains how to calculate the effective interest rates, monthly payments and prepare an amortization table

    $2.19

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