What is the nominal interest rate

Reference no: EM132206614

Question: For a nominal interest rate of 24% per year compounded quarterly, following:

(a) What is the nominal interest rate per 18 months?

(b) What is the effective interest rate for 18 months?

(c) Ahmed borrows $50000 from a bank at the above-mentioned interest r his loan, he wants to make two equal payments of X amounts at months respectively. What is the value of X?

Reference no: EM132206614

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