Question
A person is considering entering into an agreement with an investment company to deposit $1006 into a special account at the end of each year
A person is considering entering into an agreement with an investment company to deposit $1006 into a special account at the end of each year for 15 years. At the end of the period, the person would be able to withdraw a lump sum of $29002. At what rate would the person earn interest, if the interest was compounded annually?
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Advanced Management Accounting Pearson New International
Authors: Robert Steven Kaplan, Anthony A. Atkinson
3rd Edition
1292026596, 978-1292026596
