Answered: The discount on 1000 due in one month…

The discount on 1000 due in one month is 100. X is the nominal rate of discount per annum compounded semiannually. Determine X. Oa. 3.39% O b. 93.17% O C. 46.86% O d. 23.43% O e. 53.14%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The discount on 1000 due in one month is 100. X is the nominal rate of discount per annum
compounded semiannually. Determine X.
а. 3.39%
b. 93.17%
c. 46.86%
d. 23.43%
е.
53.14%

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