Question
Olivia invested an amount of $14,000.00 in a mutual fund. After 3 years and 6 months the accumulated value of his investment was $15,093.13. What
Olivia invested an amount of $14,000.00 in a mutual fund. After 3 years and 6 months the accumulated value of his investment was $15,093.13. What is the nominal interest rate of the investment if interest is compounded monthly?
%
Round to two decimal places
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An Elementary Introduction To Mathematical Finance
Authors: Sheldon M Ross
3rd Edition
1139065106, 9781139065108
