a 2 years, 9 months ago, a bank account had a balance of $23,661 and...

60.1K

Verified Solution

Question

Accounting

image
a 2 years, 9 months ago, a bank account had a balance of $23,661 and was earning interest at a quarterly rate. Since then, $780 has been withdrawn at the end of every month. After today's withdrawal, the account is now empty. What nominal interest rate did this account earn? 0.00 % Round to 2 decimal places

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students