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Samantha wants to be able to withdraw $550 at the end of each month for two years while she travels, starting five years from now.

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Samantha wants to be able to withdraw $550 at the end of each month for two years while she travels, starting five years from now. If she invests $10,000 now to earn 4.68% compounded monthly until she begins to travel what monthly compounded nominal rate of interest must she earn after she starts to travel? She must earn a nominal rate of interest of % compounded monthly (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.) TO SIX Ceca First determine the future value of the investment at the end of the period of deferment. Then determine the nominal interest rate by entering the three known values, the periodic payment PMT, the present value PV, and the term of the annuity n, into a financial calculator. Remember to also enter P/Y and C/Y. OK

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