Answer:
1536
Step-by-step explanation:
96*16=1536
Point III is about <em>real interest rate</em>
point I doesn't apply since both nominal and effective ir are calculated by year
let alone the fact that if you look close to those numbers it would probably mean that the loan had 1year and 1 day duration :)
the II answer is the correct one
if the loan is compounded at 6 months you have to add the interest of the first 6 months interest to the total interest to find out the effective interest rate
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Hello!
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❖ The area of a square with lengths of 7 inches is 49 inches.
In a square, all sides are equal so if one side is 7 inches, the rest of the sides are 7 inches. You multiply 7 x 7 because you only need 2 sides to find the area because the area of a square is l x w. (If another sides length is stated, that is the length that you will use.
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The infinite geometric series is converges if |r| < 1.
We have r = 0.7 < 1, therefore our infinite geometric series is converges.
The sum S of an infinite geometric series with |r| < 1 is given by the formula :
We have:
Substitute:
Answer: c. Converges, 40.
