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Kimberly Young made an investment of $23,680.54. From this investment, she will receive $2,600 annually for the next 15 years starting one year from now.
Kimberly Young made an investment of $23,680.54. From this investment, she will receive $2,600 annually for the next 15 years starting one year from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What rate of interest will Kimberly's investment be earning for her? (Hint: Use Table 4.) (Round answer to O decimal places, e.g. 25%.) Rate of interest % (R) Payments 6% 8% 9% 10% 11% 4% .96154 1 .91743 .90909 .90090 2 1.75911 1.71252 5% .95238 1.85941 2.72325 3.54595 4.32948 1.88609 2.77509 3.62990 4.45182 7% .93458 1.80802 2.62432 3-38721 4.10020 .94340 1.83339 2.67301 3-46511 4.21236 3 .92593 1.78326 2.57710 3-31213 3.99271 12% .89286 1.69005 2.40183 3.03735 3.60478 15% .86957 1.62571 2.28323 2.85498 3-35216 1.73554 2.48685 3.16986 3.79079 2.53130 3.23972 3.88965 4 5 2.44371 3.10245 3.69590 6 4.62288 7 5.24214 6.00205 6.73274 7.43533 8.11090 8 5.07569 5.78637 6.46321 7.10782 7.72173 4.91732 5.58238 6.20979 6.80169 7.36009 4.76654 5-38929 5.97130 6.51523 7.02358 4.48592 5.03295 5-53482 5.99525 6.41766 5.20637 5.74664 6.24689 6.71008 4.35526 4.86842 5-33493 5.75902 6.14457 4.11141 4.56376 4.96764 4.23054 4.71220 5.14612 5-53705 5.88923 3.78448 4.16042 4.48732 4.77158 5.01877 9 5-32825 5.65022 10 11 12 13 8.76048 9.38507 9.98565 10.56312 11.11839 8.30641 8.86325 9.39357 9.89864 10.37966 7.88687 8.38384 8.85268 9.29498 9.71225 7.49867 7.94269 8.35765 8.74547 9.10791 7.13896 7.53608 7.90378 8.24424 8.55948 6.80519 7.16073 7.48690 7.78615 8.06069 6.49506 6.81369 7.10336 7-36669 7.60608 6.20652 6.49236 6.74987 6.98187 7.19087 5.93770 6.19437 6.42355 6.62817 6.81086 5.23371 5.42062 5.58315 5.72448 5.84737 14 15 16 8.85137 11.65230 12.16567 12.65930 9.44665 9.76322 5.95424 6.04716 17 18 10.83777 11.27407 11.68959 12.08532 12.46221 10.10590 10.47726 10.82760 11.15812 11.46992 10.05909 10.33560 8.31256 8.54363 8.75563 8.95012 9.12855 9.12164 9.37189 9.60/60 9.81815 7.82371 8.02155 8.20141 8.36492 8.51356 7-37916 7.54879 7.70162 7.83929 7.96333 6.12797 6.97399 7.11963 7.24967 736578 7.46944 19 13.13394 6.19823 6.25933 20 13-59033 10.59401
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