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months is 5.7%. A. $2240.97 B. $4481.95 C. $5122.22 D. $8963.89 E. $7171.11 Problem 6. (10 points) An annuity-immediate that pays $524.99 quarterly for the

image text in transcribed months is 5.7%. A. $2240.97 B. $4481.95 C. $5122.22 D. $8963.89 E. $7171.11 Problem 6. (10 points) An annuity-immediate that pays $524.99 quarterly for the next 8 years costs $11000. Calculate the nominal interest rate convertible monthly earned by this investment. A. 6.34% B. 11.1% C. 12.95% D. 4.44% E. 8.33%

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