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| rev | Admin | (Created page with "Consider two loans. Loan A has an initial principal of P<sub>0</sub> and an annual nominal interest rate of i, convertible monthly. Loan B also has an annual nominal interest rate of i, but the interest is convertible daily. At the end of the first month, a payment of m is made on Loan A, which includes one month of interest. The remaining balance on Loan A is then P<sub>1</sub> . Let j be the monthly effective interest rate of Loan B, assuming there are 12 equal months...") | Nov 19'23 at 14:17 | +1,177 |