Question
7. Compute the nominal annual rate of interest compounded monthly (using technology either TVM or the RATE() function in Excel) at which $400 paid at
7. Compute the nominal annual rate of interest compounded monthly (using technology either TVM or the RATE() function in Excel) at which $400 paid at the end of the month for eight years accumulates to $45 000. Show the variables and values inputted.
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Investment Analysis And Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
7th Edition
0324171730, 978-0324171730
