What is the nominal rate of interest convertible monthly

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David makes a sequence of 38 monthly deposits of $450 each into an account paying interest convertible monthly. Immediately after making the 38th deposit, the account balance is $18870.45 dollars. What is the nominal rate of interest convertible monthly?

Reference no: EM131117587

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What is the nominal rate of interest convertible monthly : David makes a sequence of 38 monthly deposits of $450 each into an account paying interest convertible monthly. Immediately after making the 38th deposit, the account balance is $18870.45 dollars. What is the nominal rate of interest convertible mont..

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