Question
Find the nominal annual rate of interest for the following investment. Principal Future Value Time Due Frequency of Conversion $1920.00 $2476.07 8 years semi-annually The
Find the nominal annual rate of interest for the following investment.
| Principal | Future Value | Time Due | Frequency of Conversion |
| $1920.00 | $2476.07 | 8 years | semi-annually |
The nominal annual rate of interest is __% compounded semi-annually.
(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
