Does your equal payment period match the compounding, Financial Management

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Does your equal payment period match the compounding

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You deposit equal payments of $1000 in the bank for the next 6 years. Assume the payments are made at the beginning of each year. What is the nominal interest rate you earn if you have $8,000 at the end of six years with annual compounding? Does your equal payment period match the compounding period?

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Financial Management: Does your equal payment period match the compounding

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Financial Management: Does your equal payment period match the compounding

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