Question
I failed this question on a recent exam: I was hoping someone could help me with the correct steps to solve. You deposit $990 today
I failed this question on a recent exam: I was hoping someone could help me with the correct steps to solve.
You deposit $990 today in a bank account that pays $10 every month for the next 22 years. It pays you an extra $1000 at the end of the 22nd year. what is the interest rate that you are receiving in EAR?
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
