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In preparation for the acquisition of a property, one of your clients has accumulated an amount of $ 25,369.72 by saving every quarter an amount
In preparation for the acquisition of a property, one of your clients has accumulated an amount of $ 25,369.72 by saving every quarter an amount of $ 2,000 that he invested under the following conditions: Interest rate: to be determined (fixed rate - monthly compounding) Amortization period: 3 years Quarterly payment at the end of the period. What was the nominal interest rate on this investment?
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