Tom's investment fund was compounded quarterly for the past 10 years. In that period, he earned $8,000

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Tom's investment fund was compounded quarterly for the past 10 years. In that period, he earned $8,000 in interest. Calculate the nominal interest rate earned by the fund if the accumulated value at the end of that period was $50,000.

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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Question Posted: Aug 30, 2024 09:05 AM

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Tom's investment fund was compounded quarterly for the past 10 years. In that period, he earned $8,000

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Mathematics Of Business And Finance

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