Am i doing this right and if so how do i solve from this point?
Year 1 = 1000 -> Year 6 = 1725
Interest taken 4 times a year -> 24 times total
(so what now? if this is right)
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actually i solved it from that and got
i = 0.022977...
does the nominal rate of interest = 0.02 or 2.30
(if i did that right :P)
nvm so i times 0.022977... by 4 to get the quarterly rate = 0.0919 to get a % of 9.19%
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