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    Contemporary Business Mathematics Study Set 1
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    Exam 10: Compound Interest - Further Topics
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    What Is the Nominal Rate of Interest at Which Money
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What Is the Nominal Rate of Interest at Which Money

Question 68

Question 68

Essay

What is the nominal rate of interest at which money will triple itself in eight years and six months if compounded semi-annually?

Correct Answer:

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PV = 1, FV = 3 n = 8 × 2 + blured image = ...

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