Harleen has deposited $125 at the end of each month for 13 years at 4.68% compounded monthly.

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Harleen has deposited $125 at the end of each month for 13 years at 4.68% compounded monthly. After her last deposit she converted the balance into an ordinary annuity paying $890 every three months for nine years. What is the nominal annual rate of interest compounded quarterly paid by the annuity?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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