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If you want to earn $400 of interest over 24 months on an initial investment of $1600, what is the nominal annual rate of interest.j4

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If you want to earn $400 of interest over 24 months on an initial investment of $1600, what is the nominal annual rate of interest.j4 (compounded quarterly) should be offered? Multiple Choice 4.8% 11.31% 2839

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