Question
Bill paid $10,000 (at CFO) for an investment that promises to pay $750 at the end of each of the next 5 years, then an
Bill paid $10,000 (at CFO) for an investment that promises to pay $750 at the end of each of the next 5 years, then an additional lump sum payment of $14,750 at the end of the 5th year. What is the expected rate of return on this investment?
Your answer should be between 8.12 and 21.96, rounded to 2 decimal places, with no special characters.
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Money Talks Explaining How Money Really Works
Authors: Nina Bandelj ,Frederick F. Wherry ,Viviana A. Zelizer
1st Edition
0691202893, 978-0691202891
