Question
Nicole wishes to double her investment in 6 years. If a financial institution offers her an...
Nicole wishes to double her investment in 6 years. If a financial institution offers her an interest rate that will enable her wish to come true, and assuming the interest is compounded quarterly, what would be the nominal interest offered by the financial institution?
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a. 14.72% |
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b. 13.55% |
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c. 12.52% |
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d. 11.72% |
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