Shortboard Inc. is investing in a new manufacturing process which will cost $220,000. To accumulate this amount,
Question:
Shortboard Inc. is investing in a new manufacturing process which will cost $220,000. To accumulate this amount, $26,500 is deposited at the end of every three months for two years in an investment fund. Calculate the nominal interest rate compounding quarterly.
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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