You invest $2,000 at the beginning of every year for 7 years. After 7 years your total investment is worth $16,000. If your interest rate is compounded monthly, what is your nominal annual interest rate? Round to 2 decimal points. Question 31Select one: a. 4.07% b. 2.76% c. 3.29% d. 4.30%

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20-06-2024
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You invest $2,000 at the beginning of every year for 7 years. After 7 years your total investment is worth $16,000. If your interest rate is compounded monthly, what is your nominal annual interest rate? Round to 2 decimal points. Question 31Select one: a. 4.07% b. 2.76% c. 3.29% d. 4.30%

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