Question
Nicole invested an amount of $10,000 in a mutual fund. After 3 years and 6 months the accumulated value of his investment was $11,431.17. What
Nicole invested an amount of $10,000 in a mutual fund. After 3 years and 6 months the accumulated value of his investment was $11,431.17. What is the quarterly compounded nominal interest rate of the investment?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
