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Adriana has already saved $24,950 in her investment account today. Suppose she plans to continue adding $220 at the end of every month for the
Adriana has already saved $24,950 in her investment account today. Suppose she plans to continue adding $220 at the end of every month for the next 11 years. In order to achieve her goal of having $75,000 at the end of the 11 years, what annual nominal rate of return must her investment earn?
Enter the future value as a positive value in the FV box below. Enter PV and PMT as positive or negative values based on FV being positive. Report I/Y accurate to 3 decimal places.
P/Y = |
C/Y = |
N = |
I/Y = |
PV = $ |
PMT = $ |
FV = $ |
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