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majarm majarm
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7 years ago
Sajid invested $20 000 in strip bonds earning him $2536.50 in one year. What is the nominal annual rate of interest compounded monthly?
A) 12.68%
B) 2.05%
C) 4.19%
D) 12%
E) 1%
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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AxyAxy
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