4-109. A financial institution offers a nominal interest rate of 12% while compounding its accounts quarterly. For

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4-109. A financial institution offers a nominal interest rate of 12% while compounding its accounts quarterly. For how many years must quarterly deposits of $1,000 be made into this account so that $42,931 will be accumulated at the end of this time? (4.15.2)

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Engineering Economy

ISBN: 9780134870069

17th Edition

Authors: William Sullivan, Elin Wicks, C Koelling

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