David makes a sequence of 38 monthly deposits of 450 each, Operation Management

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David makes a sequence of 38 monthly deposits of 450 each

David makes a sequence of 38 monthly deposits of $450 each into an account paying interest convertible monthly. Immediately after making the 38th deposit, the account balance is $18870.45 dollars. What is the nominal rate of interest convertible monthly?

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Operation Management: David makes a sequence of 38 monthly deposits of 450 each

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