Canary Company invested this year's profits of $73,800.00 in a fund that matured to $167,895.17 in 9 years. What nominal interest rate compounded quarterly is this investment earning? % Round to two decimal places

Canary Company invested this year's profits of $73,800.00 in a fund that matured to $167,895.17 in 9 years. What nominal interest rate compounded quarterly is this investment earning? % Round to two decimal places

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 18E

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Canary Company invested this year's profits of $73,800.00 in a fund that matured to $167,895.17 in 9 years. What nominal interest rate compounded quarterly is this investment earning?

Round to two decimal places

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