New answers tagged compound-interest
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If someone says that the six month interest rate is 5% quoted for an act/360 daycount with semi annual compounding, this means that the amount to pay on a loan of $1 to be repaid in a year is 1.025^2, right?
Well it depends on the frequency of the payment. It's unusual to quote a rate for a period shorter than the payment frequency, so most likely the loan ...
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