Question 6 of 14 Brandon's investment of $81,200.00 in a fund matured to $174,488.62 in 8 years. If the interest in the fund is compounded monthly, calculate the following rounded to two decimal places. a. Periodic interest rate (1) (i) b. Nominal interest rate の
Question 6 of 14 Brandon's investment of $81,200.00 in a fund matured to $174,488.62 in 8 years. If the interest in the fund is compounded monthly, calculate the following rounded to two decimal places. a. Periodic interest rate (1) (i) b. Nominal interest rate の
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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![Question 6 of 14
Brandon's investment of $81,200.00 in a fund matured to $174,488.62 in 8 years. If the interest in the fund is
compounded monthly, calculate the following rounded to two decimal places.
a. Periodic interest rate
(1)
(i)
%
b. Nominal interest rate
の
G)
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F503e5985-4fe4-4252-b807-7eeb6f044a26%2F24747f6b-f6ab-4416-9b73-03478c8ee67a%2Fkect6mr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 6 of 14
Brandon's investment of $81,200.00 in a fund matured to $174,488.62 in 8 years. If the interest in the fund is
compounded monthly, calculate the following rounded to two decimal places.
a. Periodic interest rate
(1)
(i)
%
b. Nominal interest rate
の
G)
%
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