Total payments in a year = $5200.00 * 2 = $10,400.00
Nominal interest rate:
($10,400.00 / Present value: $62,400.00) * 100 = 16.67% .
Present value: $62400.00
Periodic payment: $5200.00
Payment interval: 6 months
term: 25 years
conversion period: annually
Interest rate: ?
How to find the interest rate please show me the process how to get it.
thank you,
Julio.