QuestionFind i (the rate per period) and n (the number of periods) for the following loan at the given annual rate. Semiannual payments of $\$ 4,400$ are made for 11 years to repay a loan at $8.1 \%$ compounded semiannually. $i=$ $\square$ (Type an integer or decimal rounded to four decimal places as needed.)

Studdy Solution
Perform the multiplication to find $n$ .
$n = 11 \times 2 = 22$
Thus, the number of periods is $22$ .
The rate per period is $i = 0.0405$ and the number of periods is $n = 22$ .

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