What is the quarterly compounded nominal interest rate

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Question - Michelle invested an amount of $12,000 in a mutual fund. After 2 years and 6 months the accumulated value of his investment was $12,947.04. What is the quarterly compounded nominal interest rate of the investment?

Reference no: EM132928241

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What is the quarterly compounded nominal interest rate : After 2 years and 6 months the accumulated value of his investment was $12,947.04. What is the quarterly compounded nominal interest rate of the investment
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