$1,000 beginning of the quarter deposits will be made into an account for 19 years and 3 months. What was the interest rate compounded quarterly associated with the account if there was $180, 609.96 in the account at the end of the 19 ¼ years?

$1,000 beginning of the quarter deposits will be made into an account for 19 years and 3 months. What was the interest rate compounded quarterly associated with the account if there was $180, 609.96 in the account at the end of the 19 ¼ years?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 2E: Future Value Hugh Colson deposited 20,000 in a special savings account that provides for interest at...

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