Given a Periodic Interest Rate of 0

question 281

Short Answer

Given a periodic interest rate of 0.65%, calculate the nominal interest rate if interest is compounded monthly.

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Definitions:

Construct An Argument

The process of logically assembling reasons, evidence, and facts to support a statement, proposition, or conclusion.

Opposing Argument

A statement or viewpoint that conflicts with or counters another argument or proposition.

Alternative Response

A different or non-traditional reaction or solution to a given situation or problem.

Minds

The elements of a person that enables them to be aware of the world and their experiences, to think, and to feel; the faculty of consciousness and thought.