Multiple Choice
A $10,000 deposit along with quarterly contributions of $150 accumulates to $18,000 in 5 years. Determine the nominal rate of interest if interest is compounded annually.
A) 7.58%
B) 8.58%
C) 9.68%
D) 10.28%
E) 13.28%
Correct Answer:
Verified
Correct Answer:
Verified
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