Yin li deposited $800 into a savings account that compounded interest monthly. What nominal annual rate compounded

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Yin li deposited $800 into a savings account that compounded interest monthly. What nominal annual rate compounded monthly was earned on the investment if the balance was $952.75 in five 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 03:51 AM

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Yin li deposited $800 into a savings account that compounded interest monthly. What nominal annual rate compounded

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Contemporary Business Mathematics with Canadian Applications

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