mal interest rate compounded

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Question
Timothy heard that he could triple his money in 27 years if he invested it in his friend's
business. What nominal interest rate compounded monthly does
telecommunications
the business offer?
0.00 %
Round to two decimal places
Transcribed Image Text:Timothy heard that he could triple his money in 27 years if he invested it in his friend's business. What nominal interest rate compounded monthly does telecommunications the business offer? 0.00 % Round to two decimal places
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