Saved An initial $3300 investment was worth $3820 after two years and six months. What quarterly compounded nominal rate of return did the investment earn? (Do not round Intermedlate calculations and round your final answer to 2 decimal places.) Nominal rate of return % compounded quarterly.

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
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An initial $3300 investment was worth $3820 after two years and six months. What quarterly compounded nominal rate of return did
the investment earn? (Do not round Intermedlate calculatlons and round your final answer to 2 decimal places.)
Nominal rate of return
% compounded quarterly.
Transcribed Image Text:Saved An initial $3300 investment was worth $3820 after two years and six months. What quarterly compounded nominal rate of return did the investment earn? (Do not round Intermedlate calculatlons and round your final answer to 2 decimal places.) Nominal rate of return % compounded quarterly.
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