Question: A certain annuity pays P890 at the end of every 3 months for 12 years. If the present value of the annuity is P1,200 and

A certain annuity pays P890 at the end of every 3 months for 12 years. If the present value of the annuity is P1,200 and the accumulated amount is P2,000 determine the nominal rate.

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