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stranahan stranahan
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7 years ago
Elizabeth is seeking to expand her rare coin collection. Each year, rare coins 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 26 coins for what 25 coins would cost today. What is the approximate nominal rate necessary to compensate for waiting and cover inflation?
A) 6.00%
B) 6.50%
C) 5.00%
D) 7.00%
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
Author:
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FatherHyenaFatherHyena
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7 years ago
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stranahan Author
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#2
7 years ago
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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