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Nam opens a savings account with a deposit of $4,000. He deposits $200 at the end of each month for the next three months, and
Nam opens a savings account with a deposit of $4,000. He deposits $200 at the end of each month for the next three months, and then $400 at the end of each month for the following six months. His bank account balance is $7300 one year after he opened his account. Find annual yield.
Answer is .053729. Please show work.
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