If $13,376.39 was the interest earned on lending $87,000.00 for 4 years, what was the quarterly compounding nominal interest rate charged on the loan?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
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1.5% TOBACCO
18 50
x
B MRK200 Summer - 2022, Seneca X
egelink/#/course-resource/section/12546/assignment/15383/new
-0-NAA
Lab #4
Close Date: Mon, Jun 13, 2022, 09:29 AM
Question 3 of 6
If $13,376.39 was the interest earned on lending $87,000.00 for 4 years, what was the
quarterly compounding nominal interest rate charged on the loan?
%
Round to two decimal places
E
SAVE PROGRESS
Q
hp
Assignment
X
A
Amin Chamadi
SUBMIT ASSIGNMENT
ENG
IN
13-
Transcribed Image Text:1.5% TOBACCO 18 50 x B MRK200 Summer - 2022, Seneca X egelink/#/course-resource/section/12546/assignment/15383/new -0-NAA Lab #4 Close Date: Mon, Jun 13, 2022, 09:29 AM Question 3 of 6 If $13,376.39 was the interest earned on lending $87,000.00 for 4 years, what was the quarterly compounding nominal interest rate charged on the loan? % Round to two decimal places E SAVE PROGRESS Q hp Assignment X A Amin Chamadi SUBMIT ASSIGNMENT ENG IN 13-
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