An Investment Has the Following Interest Rates: J₂ = 6

question 82

Multiple Choice

An investment has the following interest rates: j₂ = 6% for the first 30 months,followed by j₄ = 8% for the next 36 months,followed by j₆ = 9% for the last 18 months.What is the equivalent j₂ earned over the 7 year period?

• A)6.24%
• B)6.68%
• C)7.56%
• D)7.70%

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