Harleen has deposited​ $125 at the end of each month for 13 years at​ 4.68% compounded monthly. After her last deposit she converted the balance into an ordinary annuity paying​ $890 every three...


Harleen has deposited​ $125 at the end of each month for 13 years at​ 4.68% compounded monthly. After her last deposit she converted the balance into an ordinary annuity paying​ $890 every three months for nine years. What is the nominal annual rate of​ interest, compounded​ quarterly, paid by the​ annuity?



Jun 09, 2022
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