Frank sold an antique car he had inherited, investing the proceeds of $15 000 to earn 4.84%

Question:

Frank sold an antique car he had inherited, investing the proceeds of $15 000 to earn 4.84% compounded monthly. After 45 months, he converted his investment to an annuity, whereby he withdraws $335 at the end of each month over 5 years. What monthly compounded nominal rate of interest does the annuity earn during the annuity period?

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