$480 is deposited at the beginning of every 6 months into a savings account. This will continue for 9 years at which point the balance in the account will be $11,894.90. If the interest on the account...

$480 is deposited at the beginning of every 6 months into a savings account. This will<br>continue for 9 years at which point the balance in the account will be $11,894.90. If the<br>interest on the account is compounded quarterly, what nominal rate is this account<br>earning?<br>Round to 2 decimal places<br>

Extracted text: $480 is deposited at the beginning of every 6 months into a savings account. This will continue for 9 years at which point the balance in the account will be $11,894.90. If the interest on the account is compounded quarterly, what nominal rate is this account earning? Round to 2 decimal places

Jun 05, 2022

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$480 is deposited at the beginning of every 6 months into a savings account. This will continue for 9 years at which point the balance in the account will be $11,894.90. If the interest on the account...

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