Mona Persian is considering a new investment fund with a semiannual interest rate of 2.5%. Any money she invests would have to be left in it for at least five years if she wanted to withdraw it without a penalty.
a. What is the nominal interest rate?
b. What is the annual effective interest rate?
c. If Mona deposits $10,000 in the fund now, how much should it be worth in five years?
Answers: 1
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Mona Persian is considering a new investment fund with a semiannual interest rate of 2.5%. Any money...
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