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38 An original investment today of $5,000 provides an ordinary annuity of $2,000 per year, to be received at the end of each of each
38
An original investment today of $5,000 provides an ordinary annuity of $2,000 per year, to be received at the end of each of each of the next three years. The internal rate of return is percent. A) less than 6 B) more than 6 percent but less than 7 C) more than 7 percent but less than 8 D) more than 8 percent but less than 9 E) more than 9Step by Step Solution
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