Question
Nando invests $250 on the first of every month for three years. In three years, Nando's investment totals $10,000. Assuming monthly compounding, what nominal annual
Nando invests $250 on the first of every month for three years. In three years, Nando's investment totals $10,000. Assuming monthly compounding, what nominal annual return did the investment earn?
| 6.7432% | ||
| 7.1164% | ||
| 7.5808% | ||
| 10.7275% |
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
