Naihui and haiyan deposit 250 into their joint account at, Ask an Expert

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Naihui and Haiyan deposit $250 into their joint account at the end of each month. They want to have a total of $12,000 in their account after 40 months:

a. What monthly rate of interest must they earn?

b. What nominal annual rate of interest must they earn?

c. What effective annual rate of interest must they earn?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92802264

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