Bob deposits $1,500 at the beginning of each quarter for sixteen years in a fund earning a nominal rate of interest of 6% convertible monthly. | Cheap Nursing Papers

Bob deposits $1,500 at the beginning of each quarter for sixteen years in a fund earning a nominal rate of interest of 6% convertible monthly.

Bob deposits $1,500 at the beginning of each quarter for sixteen years in a fund earning a nominal rate of interest of 6% convertible monthly. The interest from this fund is paid out monthly and can only be reinvested at an effective annual rate of 5.2%. Find Bob’s yield rate for the twenty-year period.

"Get 15% discount on your first 3 orders with us"
Use the following coupon
FIRST15

Order Now

Hi there! Click one of our representatives below and we will get back to you as soon as possible.

Chat with us on WhatsApp