Question
Surinder borrowed $1400.00 and agreed to pay $1729.39 in settlement of the debt in six years, six months. What annual nominal rate compounded quarterly was
Surinder borrowed $1400.00 and agreed to pay $1729.39 in settlement of the debt in six years, six months.
What annual nominal rate compounded quarterly was charged on the debt?
The nominal annual rate of interest is________%.
(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)
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Investment Science
Authors: David G. Luenberger
2nd Edition
0199740089, 978-0199740086
