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Find what is the equivalent interest rate

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Reference no: EM132684705

Question 1: What's the Equivalent interest rate?. Mr. Fox was going to the bank to get a loan at 10% compounded quarterly.

  • Mr. Wolf, said to him" can give you a loan instead! But all loans are always compounded annually."

Question 2: What is the interest rate(i/y) Mr. Fax should ask Mr. Wolf for to get the same value loan?

Reference no: EM132684705

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