An annuity that pays $950 at the end of each month for 18 years sells for $105,000 What was the quarterly compounded nominal rate of interest Please answer fast with explanation. I will really upvote. Thanks
An annuity that pays $950 at the end of each month for 18 years sells for $105,000 What was the quarterly compounded nominal rate of interest Please answer fast with explanation. I will really upvote. Thanks
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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What was the quarterly compounded nominal rate of interest
Please answer fast with explanation.
I will really upvote. Thanks
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