Nominal Rate of Return

Anne Lockwood, manager of Oaks Mall Jewelry, wants to sell on credit, giving customers $3$ months to pay. However, Anne will have to borrow from her bank to carry the accounts receivable. The bank will charge a nominal rate of $9\%$ and will compound monthly. Anne wants to quote a nominal rate to her customers $($all of whom are expected to pay on time$)$ that will exactly offset her financing costs. What nominal annual rate should she quote to her credit customers? Do not round intermediate calculations. Round your answer to two decimal places.