Question: Frank invests $ 8 , 8 4 0 . 0 0 at time t = 0 . in return he receives $ 4 , 6

Frank invests $8,840.00 at time t=0. in
return he receives $4,600.00 at time t=1 and
$10,100.00 at time t=3. Half of the time 1
payment, he reinvests at an annual effective
interest rate of 7.3%. What is his annual
yield rate for the three year period? (You
are strongly advised to use a financial math
calculator here.)
Frank invests $8,840.00 at time t=0. in return he receives $4,600.00

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