Helen's investment of $81,000.00 in a fund matured to $118,515.23 in 6 years. If the interest in

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Helen's investment of $81,000.00 in a fund matured to $118,515.23 in 6 years. If the interest in the fund is compounded monthly, calculate the following rounded to two decimal places.

a. Periodic interest rate

b. Nominal interest rate

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Fundamentals of Financial Management

ISBN: 978-0324597707

12th edition

Authors: Eugene F. Brigham, Joel F. Houston

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Posted Date: Mar 01, 2024 05:06 AM

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Helen's investment of $81,000.00 in a fund matured to $118,515.23 in 6 years. If the interest in

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To calculate the periodic interest rate and nominal interest rate we can use the formula for compoun... View the full answer

Fundamentals of Financial Management

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