Question: I know the answer is 5.85509%, but I don't know how to solve it. Section 4.7 # 2 Bob deposits $1,500 at the beginning of

I know the answer is 5.85509%, but I don't know how to solve it.

I know the answer is 5.85509%, but I don't know how to

Section 4.7 # 2 Bob deposits $1,500 at the beginning of each quarter for sixteen years in a fund earning a nominal rate of interest of 6% convertible monthly. The interest from this fund is paid out monthly and can only be reinvested at an effective annual rate of 5.2%. This is just as in Problem (4.5.5). Find Bob's yield rate for the twenty-year period

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