Question
A vacation property valued at $35,000 was bought for 80 payments of $884 due at the end of every 3 months. What nominal annual rate
A vacation property valued at
$35,000
was bought for
80
payments of
$884
due at the end of every
3 months.
What nominal annual rate of interest compounded
monthly
was charged?
The nominal annual rate of interest is
nothing%
compounded
monthly.
(Round to two decimal places as needed.)
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
4th Edition
0077262379, 978-0077262372
