What is the nominal annual rate of interest compounded semi annually at which $1346.00 will...

50.1K

Verified Solution

Question

Accounting

What is the nominal annual rate of interest compounded semi annually at which $1346.00 will accumulate to 1474.71 in three years and six months ?

The nominal annual rate of interest is [ ]? ( round the final answer to four decimal places as needed. Round all intermediate values to six decimals places as needed)

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