Question

For the following annuity​ due, determine the nominal annual rate of interest. Future Value Present Value...

For the following annuity​ due, determine the nominal annual rate of interest.

Future Value

Present

Value

Periodic

Rent

Payment Period

Term

Conversion Period

​$6,818

–

​$490

1 year

9

years

monthly
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Answer #1

nominal annual rate of interest = 1.75%

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