Mathematics, 12.11.2020 09:40 mimithurmond03
Use graphical approximation techniques or an equation solver to approximate the desired interest rate. A
person makes annual payments of $1000 into an ordinary annuity. At the end of 5 years, the amount in
the annuity is $5898.27. What annual nominal compounding rate has this annuity earned?
Type the interest rate: %
(Round to 2 decimal places.)
Answers: 2
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