Question: Q: Jogging Gear is considering a project with an initial cash requirement of $238,400. The project will yield cash flows of $4,930 monthly for 65

Q: Jogging Gear is considering a project with an initial cash requirement of $238,400. The project will yield cash flows of $4,930 monthly for 65 months. What is the nominal annual rate of return on this project?

A. 9.97 percent

B. 11.38 percent

C. 14.28 percent

D. 13.41 percent

E. 10.56 percent

Please write down the steps or tell me how to slove the problem by using the financial calculator (BA II Plus).

PLEASE DO NOT SHOW ME THE ANSWER BY USING THE EXCEL. I need to learn how to do it by myself. Thank you.

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