What monthly compounded nominal rate of return would one need to achieve in order to have investments of $100 made at the end of every month for 35 years accumulate to $1 million?Group of answer choices 11.35 % 13.62 % 12.93% 14.50 % 14.76%

What monthly compounded nominal rate of return would one need to achieve in order to have investments of $100 made at the end of every month for 35 years accumulate to $1 million?Group of answer choices 11.35 % 13.62 % 12.93% 14.50 % 14.76%

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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What monthly compounded nominal rate of return would one need to achieve in
order to have investments of $100 made at the end of every month for 35 years
accumulate to $1 million?Group of answer choices
11.35 % 13.62 % 12.93 % 14.50% 14.76%

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