What nominal annual rate of interest compounded monthly was paid if contributions of $250 made into an

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What nominal annual rate of interest compounded monthly was paid if contributions of $250 made into an RRSP at the end of every month amounted to $35 000 after 10 years?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:57 AM

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What nominal annual rate of interest compounded monthly was paid if contributions of $250 made into an

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Hence the nominal annual rate of interest 304 We can calculate the nomina...View the full answer

Contemporary Business Mathematics with Canadian Applications

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