Question
Hank made payments of $ 106 per month at the end of each month for 30 years to purchase a piece of property. He promptly
Hank made payments of $106 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for
$99,434.
What annual interest rate would he need to earn on an ordinary annuity for a comparable rate ofreturn?
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Fundamentals Of Financial Management
Authors: Richard Bulliet, Eugene F Brigham, Brigham/ Houston
11th Edition
1111795207, 9781111795207
