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A national advertising program that costs $250,000 today is expected return a profit (like interest) of $75,000 in 6 years. Determine: (3 marks) The rate
A national advertising program that costs $250,000 today is expected return a profit (like interest) of $75,000 in 6 years. Determine: (3 marks)
- The rate of return (interest) using simple interest.
- The rate of return (interest) using compound interest (compounded annually), where the Future Value would be $250,000 and $75,000 added together.
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