What is the coefficient of 8. 2N? Type a numerical answer in the space provided. Do not use spaces in your answer.
1 answer:
You might be interested in
Answer:
2.4%
Step-by-step explanation:
If the APR is x% and it is compounded for n times in a year, then the period interest rate is %.
Now, given that the interest rate on a mortgage is 4.8% APR compounded semiannually.
So, here x = 4.8% and n = 2 and hence, the period interest rate on the mortgage is %. (Answer)