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What is the nominal annual interest rate on the account

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Reference no: EM132740544

Problem 1: Saving for education requires a future value of $65 000. If deposits of $6800 are made at the end of every year for 7 years, what is the nominal annual interest rate, compounded semi-annually, on this account?

Select one:

a. 9.995185%
b. 10.244945%
c. 6.274834%
d. 20.489889%

Reference no: EM132740544

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