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(10 points) An annuity-immediate that pays $468.48 quarterly for the next 9 years costs $11000. Calculate the nominal interest rate convertible monthly earned by this

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(10 points) An annuity-immediate that pays $468.48 quarterly for the next 9 years costs $11000. Calculate the nominal interest rate convertible monthly earned by this investment. A. 8% B. 14.29% C. 7.5% D. 5% E. 10%

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