You invested $10,500 at the end of each quarter for 6 years in an investment fund. A the end of year 6, if the balance in the fund was $265,000, what was the nominal interest rate compounded quarterly? 0.00 % Round to two decimal places

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
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You invested $10,500 at the end of each quarter for 6 years in an investment fund. At
the end of year 6, if the balance in the fund was $265,000, what was the nominal
interest rate compounded quarterly?
0.00 %
Round to two decimal places
Transcribed Image Text:You invested $10,500 at the end of each quarter for 6 years in an investment fund. At the end of year 6, if the balance in the fund was $265,000, what was the nominal interest rate compounded quarterly? 0.00 % Round to two decimal places
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