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Bill deposits 900 into a fund for 18 years. The fund pays interest at the end of each 6-month period at a nominal rate of
Bill deposits 900 into a fund for 18 years. The fund pays interest at the end of each 6-month period at a nominal rate of i convertible semiannually. The interest payments are reinvested in a separate fund earning interest at an annual effective rate of 8%. During the 18-year period, Bill earns an annual effective yield of 9.5%. Calculate i. [5.a-c #13] O 11.77% 10.47% 11.44% O 11.12% 10.8%
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