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Title: Josephine is seeking to expand her rare stamp collection. Each year, rare stamps increase in price ... Post by: stranahan on Nov 20, 2016 Josephine is seeking to expand her rare stamp collection. Each year, rare stamps increase in price at a three percent rate. She believes that if she invests her money for one year, she should be able to buy 16 stamps for what 15 stamps would cost today. What is the approximate nominal rate necessary to compensate for waiting and cover inflation?
A) 3.00% B) 6.67% C) 3.67% D) 9.67% Title: Re: Josephine is seeking to expand her rare stamp collection. Each year, rare stamps increase in ... Post by: clockfitness on Nov 20, 2016 Content hidden
Title: Re: Josephine is seeking to expand her rare stamp collection. Each year, rare stamps increase in ... Post by: leesajohnson on Nov 20, 2016 9.67%
Title: Re: Josephine is seeking to expand her rare stamp collection. Each year, rare stamps increase in price ... Post by: stranahan on Jan 6, 2017 Thank you for the help. I had a few questions on a few of them and this really confirmed my answers.
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