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How do you get the interest rate for this Calculate the annual rate of interest Oriole needs to earn on the cash invested in order
How do you get the interest rate for this
Calculate the annual rate of interest Oriole needs to earn on the cash invested in order to reach its goal of $342,000 to replace the conveyor four years from today. (For calculation purposes, use 5 decimal places as displayed in the factor table provided answer to 2 decimal places, e.g. 52.75\%.) Click here to view Table A.2 - PRESENT VALUE OF 1 - (PRESENT VALUE OF A SINGLE SUM) Click here to view Table A.4 - PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 Annual rate of interest % eTextbook and Media Oriole Inc. needs to set aside cash for the replacement of a conveyor in its assembly line. Oriole can afford to set aside $19,900 at the end of each quarter and will need $342,000 to replace the conveyor at the end of four years. What annual rate interest oriole need to earn on the cash invested to reach its goal $342,000 ? (a) Your answer is correct. Of the variables listed, choose the variable being calculated? eTextbook and MediaStep by Step Solution
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