3 Questions
Which one of the following options is the correct monthly discount rate expressed as a nominal annual rate?
6.88%
What is the correct future value of the investment after 4.25 years, considering the monthly discount rate expressed as a nominal annual rate?
$178,663.58
What is the correct period of time, in years, over which the future value of $182,500 is reduced to $178,663.58?
4.25 years
Calculate the monthly discount rate converted to a nominal annual rate for a future value reduction from $182,500 to $178,663.58 over 4.25 years. Choose the correct option from a range of answers.
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