SOLUTION: Use graphical approximation techniques or an equation solver to approximate the desired interest rate. A person makes annual payments of $ 1000 into an ordinary annuity. At the end
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Question 1161452: Use graphical approximation techniques or an equation solver to approximate the desired interest rate. A person makes annual payments of $ 1000 into an ordinary annuity. At the end of 5 years, the amount in the annuity is $ 5666.43. What annual nominal compounding rate has this annuity earned? Answer by greenestamps(13203) (Show Source):
