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Derek invested an amount of $30,000 in a mutual fund. After 2 years and 3 months the accumulated value of his investment was $31,415.78.
Derek invested an amount of $30,000 in a mutual fund. After 2 years and 3 months the accumulated value of his investment was $31,415.78. What is the semi-annually compounded nominal interest rate of the investment? % Round to two decimal places
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Derivatives Markets
Authors: Rober L. Macdonald
4th edition
321543084, 978-0321543080
