Question
You agree to make 36 deposits of $800 at the beginning of each month into a bank account. At the end of the 36th month,
You agree to make 36 deposits of $800 at the beginning of each month into a bank account. At the end of the 36th month, you will have $33,000 in your account. If the bank compounds interest monthly, what nominal annual interest rate will you be earning?
A)9.62%
B)9.00%
C)9.16%
D)8.68%
E)9.03%
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A Fast And Frugal Finance
Authors: William P. Forbes, Aloysius Igboekwu, Shabnam Mousavi
1st Edition
0128124954, 978-0128124956
