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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 Quarterly Will $2000
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At What Nominal Rate of Interest Compounded Quarterly Will $2000

Question 31

Question 31

Essay

At what nominal rate of interest compounded quarterly will $2000.00 earn $400.00 interest in three years?

Correct Answer:

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PV = 2000, FV = 2000 + 400 = 2...

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