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    Contemporary Business Mathematics Study Set 1
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    Exam 10: Compound Interest - Further Topics
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    At What Nominal Rate of Interest Compounded Monthly Will $1700
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At What Nominal Rate of Interest Compounded Monthly Will $1700

Question 44

Question 44

Essay

At what nominal rate of interest compounded monthly will $1700.00 earn $500.00 interest in three years?

Correct Answer:

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PV = 1700, FV = 1700 + 500 = 2...

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