Assuming semiannual every 6 months compounding what is the


A student bought a $75 used guitar and agreed to pay for it with a single $85 payment at the end of 6 months. Assuming semiannual (every 6 months) compounding, what is the nominal annual interest rate? What is the effective interest rate?

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Business Economics: Assuming semiannual every 6 months compounding what is the
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