Question
Marilyn is receiving $3000 per quarter for 30 years. In order to receive these payments, she deposited $305,000 into an account with semiannual compounding. a)
Marilyn is receiving $3000 per quarter for 30 years. In order to receive these payments, she deposited $305,000 into an account with semiannual compounding.
a) Rounded to thenearest 0.01%, what nominal rate of interest did the account pay?
??? %compounded semiannually
Round to 2 decimals (eg 1255.545 --> 125.55). Do NOT put $b) How much interest did the account earn?
$ ???
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More Calculus Of A Single Variable
Authors: Peter R Mercer
1st Edition
1493919261, 9781493919260
