Compute the monthly rate
Problem:
If the APR is 7% with semi-annual compounding, compute the monthly rate.
a. 0.375%
b. 0.465%
c. 0.501%
d. 0.575%
e. 0.607%
Note: Please provide through step by step calculations.
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If the APR is 7% with semi-annual compounding, compute the monthly rate. Note: Please provide through step by step calculations.
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