Compute the nominal annual rate of interest compounded quarterly at which $300.00 paid at the end of every three months for six years accumulates to $10.000.00 The nominal annual rate of interest is% compounded quarterly (Round to two decimal places as needed)

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 26P
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Compute the nominal annual rate of interest compounded quarterly at which $300.00 paid at the end of every three months for six years accumulates to $10.000.00
Came
The nominal annual rate of interest is compounded quarterly
(Round to two decimal places as needed.)
Transcribed Image Text:Compute the nominal annual rate of interest compounded quarterly at which $300.00 paid at the end of every three months for six years accumulates to $10.000.00 Came The nominal annual rate of interest is compounded quarterly (Round to two decimal places as needed.)
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