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Posted on Jul 23, 2024

Jones expects an immediate investment of $ 4 9 , 9 7 5 . 2 0 to return $ 8 , 0 0 0 annually

Jones expects an immediate investment of $

49, 975.20

to return $

8, 000

annually for nine years, with the first payment to be received one year from now. What rate of interest must Jones earn?

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