Question
5. Assume Frederick needs $3500 in 3 years to buy his girlfriend an engagement ring. If he can only save $500 per year, what annual
5. Assume Frederick needs $3500 in 3 years to buy his girlfriend an engagement ring. If he can only save $500 per year, what annual interest rate must he earn to have the money available?
PV FV PMT RATE NPER
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes
4th Edition
0256147175, 978-0256147179
