At what nominal rate of interest, convertible monthly, is $16,000 the present value of $290.10paid at the beginning of each month for 6 years? Round your answer to 2 decimal places. please respond only if you are confident in your answer, my last response was incorrect....

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...
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At what nominal rate of interest, convertible monthly, is $16,000 the present value of $290.10paid at the beginning of each month for 6 years? Round your answer to 2 decimal places.

please respond only if you are confident in your answer, my last response was incorrect....

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