In Problem use graphical approximation techniques or an equation solver to approximate the desired interest rate. Express
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In Problem use graphical approximation techniques or an equation solver to approximate the desired interest rate. Express each answer as a percentage, correct to two decimal places.
An employee opens a credit union account and deposits $120 at the end of each month. After one year, the account contains $1,444.96. What annual nominal rate compounded monthly has the account earned?
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Answers The annual nominal rate compounded monthly that the account has earned is 494 Expla...View the full answer
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Related Book For 
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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