Question: 3 - 5 1 without a penalty. ( a ) What is the nominal interest rate? ( b ) What is the annual effective interest

3-51 without a penalty. (a) What is the nominal interest rate? (b) What is the annual effective interest rate? (c) If Mona deposits $10,000 in the fund now, how much should it be worth in five years? Contributed by Gillian Nicholls, Southeast Missouri State University

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