What monthly compounded nominal rate of return would one need to achieve in order to have investments of $100 made at the end of every month for 35 years accumulate to $1 million?Group of answer choices 11.35 % 13.62 % 12.93% 14.50 % 14.76%

Personal Finance
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ISBN:9781337669214
Author:GARMAN
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Chapter1: Understanding Personal Finance
Section1.4: Perform Time Value Of Money Calculations
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What monthly compounded nominal rate of return would one need to achieve in
order to have investments of $100 made at the end of every month for 35 years
accumulate to $1 million?Group of answer choices
11.35 % 13.62 % 12.93 % 14.50% 14.76%
Transcribed Image Text:What monthly compounded nominal rate of return would one need to achieve in order to have investments of $100 made at the end of every month for 35 years accumulate to $1 million?Group of answer choices 11.35 % 13.62 % 12.93 % 14.50% 14.76%
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