You invested $7,000 in a savings deposit 5 quarters ago and it has grown to $7993 today.

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You invested $7,000 in a savings deposit 5 quarters ago and it has grown to $7993 today. What nominal rate of annual interest (compounding quarterly) did you earn? (expressed as a percentage to two decimal places; don’t use the % sign)

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Investment Analysis and Portfolio Management

ISBN: 978-0538482387

10th Edition

Authors: Frank K. Reilly, Keith C. Brown

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Posted Date: Feb 26, 2024 05:19 AM

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You invested $7,000 in a savings deposit 5 quarters ago and it has grown to $7993 today.

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To find the nominal annual interest rate compounded quarterly we can use the formula fo... View the full answer

Investment Analysis and Portfolio Management

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