Question
Andrea Stone made an investment of $27,959.82. From this investment, she will receive $2,800 annually for the next 13 years starting one year from now.
Andrea Stone made an investment of $27,959.82. From this investment, she will receive $2,800 annually for the next 13 years starting one year from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What rate of interest will Andreas investment be earning for her? (Hint: Use Table 4.) (Round answer to 0 decimal places, e.g. 25%.)
| Rate of interest | % |
Table 4 is the Present Value of an Annuity of 1
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Security Audit And Control Features SAP ERP
Authors: Isaca
4th Edition
1604205806, 978-1604205800
