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Business, 18.11.2019 19:31 imorn4101

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%. this is just as in problem (4.5.5). find bob’s yield rate for the twenty-year period.

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