A four-year promissory note for $3800 plus interest at 9.5% compounded semiannually was sold 18 months before

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A four-year promissory note for $3800 plus interest at 9.5% compounded semiannually was sold 18 months before maturity for $4481.

What quarterly compounded nominal rate of return will the buyer realize on her investment?

(Do not round the intermediate calculations. Round your answer to 1 decimal place.)

Posted Date: May 18, 2024 11:08 PM

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A four-year promissory note for $3800 plus interest at 9.5% compounded semiannually was sold 18 months before

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