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Find nominal annual rate compounding quarterly

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Zax decides to go through with setting up this repair and support service. However, it turns out that some of his estimates above were not accurate:

-The estimated startup cost of $42,000 was correct.

-The first level quarterly payment Zax receives will be exactly 3 months from the start of this service (and not 6 months as Zax estimated).

-However, the level quarterly payment Zax would receive is more likely to be 3993.6095444005.

-These quarterly payments are still expected to only last for 3 years.Again, ignoring the compensation he is paying to Banner, determine the return Zax is earning on this repair and support service, expressed as a nominal annual rate compounding quarterly. Give your answer as a percentage to 4 decimal places.

Reference no: EM132998803

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