Rob wants to save $100,000 over the next 20 years. He will make regular month-end deposits of $200 into his account. What monthly compounded nominal interest rate must he earn (j12) in order to realize his goal? Express your answer an an annual percentage rate but don't include the % sign. Your Answer: Answer
Rob wants to save $100,000 over the next 20 years. He will make regular month-end deposits of $200 into his account. What monthly compounded nominal interest rate must he earn (j12) in order to realize his goal? Express your answer an an annual percentage rate but don't include the % sign. Your Answer: Answer
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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![Rob wants to save $100,000 over the next 20 years. He will make regular month-end
deposits of $200 into his account. What monthly compounded nominal interest rate
must he earn (j12) in order to realize his goal? Express your answer an an annual
percentage rate but don't include the % sign.
Your Answer:
Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e2ad0bf-5783-4a43-ae1f-b59a9edcd42b%2F7f5c4f95-d538-4adb-ac2e-0da5a71aa634%2F3namkfv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Rob wants to save $100,000 over the next 20 years. He will make regular month-end
deposits of $200 into his account. What monthly compounded nominal interest rate
must he earn (j12) in order to realize his goal? Express your answer an an annual
percentage rate but don't include the % sign.
Your Answer:
Answer
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