Shaquille has $260,000 and his investment goal is to have it accumulate to $287,500 in 28 months. He is going to put his money in a bank that compounds interest monthly. What nominal annual rate does he need to achieve his investment goal. Express your answer as a percentage with two decimals.

Stephan can invest $80,000 in two alternative investments that both mature in 6 years.

A. Investment A pays a 7.37 % annual rate of interest compounded annually. How much will it accumulate to? 

B Investment B pays a 7.08 % annual rate of interest compounded continuously. How much will it accumulate to? 

Answer rating: 100% (QA)

For Shaquilles investment To find the nominal annual rate compounded monthly you can use the compoun... View the full answer