When calculating a loan’s effective rate, if the interest compounds every two months, what value of n do you plug into your equa

Question

Sliva [168]

3 years ago

5

When calculating a loan’s effective rate, if the interest compounds every two months, what value of n do you plug into your equa

tion?

Mathematics

2 answers:

Alex777 [14] · Answer 1 · 2022-02-26T13:58:29+03:00

Alex777 [14]3 years ago

8 0

When calculating a loan’s effective rate, if the interest compounds every two months, what value of n<span> do you plug into your equation
6
</span>

klemol [59] · Answer 2 · 2022-02-26T12:57:01+03:00

klemol [59]3 years ago

5 0

<span>If the interest is comounded every 2 months then you will apply the interest 6 times in a year. So the value of n that you will plug into your equation is 6 because there 12 months a year then it wll be compounded every 2 months</span>