Question
An initial investment of $6,500 grows to $250,000 over the course of 40 years. The annual interest rate is 6.5% for the first 15 years
An initial investment of $6,500 grows to $250,000 over the course of 40 years. The annual interest rate is 6.5% for the first 15 years and 8.5% for the last 15 years. What is the annual interest rate for the middle 10 years?
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Advanced Modelling In Mathematical Finance
Authors: Jan Kallsen, Antonis Papapantoleon
1st Edition
3319458736, 978-3319458731
