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1A. Morgan's investment of $100,400.00 in a fund matured to $153,493.32 in 5 years. If the interest in the fund is compounded monthly, calculate the
1A. Morgan's investment of $100,400.00 in a fund matured to $153,493.32 in 5 years. If the interest in the fund is compounded monthly, calculate the following rounded to two decimal places.
a. Periodic interest rate?
b. Nominal interest rate?
1B. If an investment grew to $13,000 in 2 years and the interest amount earned was $1,050, calculate the nominal interest rate compounded monthly.
1C. Calculate the nominal interest rate of Miguel's loan of $9,500.00 if it accumulated to $10,134.66 in 4 years and interest is compounded quarterly.
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