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When calculating a loan’s effective interest rate, if the nominal rate is 8.5%, what value of i do you plug into your equation?
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When calculating a loan’s effective interest rate, if the nominal rate is 8.5%, what value of i do you plug into your equation?

User Pantonis
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2 Answers

2 votes
R=(1+i/k)^k)-1
i=8.5/100=0.085
User Eladidan
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6 votes

Answer:

The answer is C on Edg 2020

Explanation:

When calculating a loan’s effective interest rate, if the nominal rate is 8.5%, what-example-1
User Jomal
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