Nuwan has invested a $30 000 insurance settlement to earn interest at 4.18% compounded semi-annually for the

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Nuwan has invested a $30 000 insurance settlement to earn interest at 4.18% compounded semi-annually for the next 10 years. If he then makes withdrawals of $850 at the beginning of every 3 months from the investment for 20 years, what quarterly compounded nominal interest rate is earned during the withdrawal period?
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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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