Terms of nominal annual rate

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Reference no: EM131806440

Your cat just won the local feline lottery to the tune of 3000 cans of "9-Lives" cat food (assorted flavors). A local grocer offers to take the 3000 cans and in return, supply 30 cans a month for the next 10 years. What rate of return, in terms of nominal annual rate, will you realize on this deal? (Compute to nearest 0.01%.)

Reference no: EM131806440

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