Question
Jacob wants to build a farm when he is older. For the next 20 years, he invests 300 monthly into an ordinary annuity account, and
Jacob wants to build a farm when he is older. For the next 20 years, he invests 300 monthly into an ordinary annuity account, and the interest was compounded each month. The annuity grew to $147,126 at the end of the 20 years. What annual interest rate must he receive?
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Authors: Mike Hartley ,Hannah Rosenstein
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