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    Exam 9: Compound Interest: Further Topics and Applications
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    An Initial $1,800 Investment Was Worth $2120
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An Initial $1,800 Investment Was Worth $2120

Question 299

Question 299

Short Answer

An initial $1,800 investment was worth $2120.31 after two years and nine months.
What quarterly compounded nominal rate of return did the investment earn?

Correct Answer:

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9.00% comp...

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