Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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An annuity that pays $1100 at the end of each month for 23 years sells for $120,000. What was the quarterly compounded nominal rate of interest? 9.658% 10.055% 9.826% 9.349% 9.928%
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Transcribed Image Text:An annuity that pays $1100 at the end of each month for 23 years sells for $120,000. What was the quarterly compounded nominal rate of interest? 9.658% 10.055% 9.826% 9.349% 9.928%
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