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Old July 3rd, 2009, 10:36 PM
TKHunny TKHunny is offline
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It appears to me that the interest payment is the only tricky part.

Quote:
Originally Posted by Amber Whittaker View Post
pay interest on the note every three months at the rate of 10.125%, compounded semi-annually.
i-annual-nominal = 0.10125
i-semi-effective = 0.10125/2 = 0.050625
i-quarterly-effective = [(1 + 0.050625)^(1/2)] - 1

You're almost done.
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