oa6 q2,4,5, Maria invested $225,000 to purchase a home. After 15 years, he...
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Accounting
oa6 q2,4,5,
Maria invested $225,000 to purchase a home. After 15 years, he sold the home for $280,000. Calculate the effective interest rate earned on this investment.
Round to two decimal places (%)
A bank has decided to set its interest rates to compound monthly on all deposits in order to give customers the same benefits as its current offering of 3.25% compounded quarterly. At what value should the monthly compounded interest rate be set?
Round to two decimal places (%)
Prisha heard that he could triple his money in 27 years if he invested it in his friend's telecommunications business. What nominal interest rate compounded quarterly does the business offer?
Round to two decimal places
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