Determine the nominal annual rate of interest of the following ordinary general annuity. Conversion Period Present Value Periodic Payment Payment Interval Term $4600 $787.91 1 year 9 years monthly The nominal annual rate of interest is ☐ % compounded monthly. (Round to two decimal places as needed.)

# Determine the nominal annual rate of interest of the following ordinary general annuity. Conversion Period Present Value Periodic Payment Payment Interval Term $4600 $787.91 1 year 9 years monthly The nominal annual rate of interest is ☐ % compounded monthly. (Round to two decimal places as needed.)

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 26P

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