Question
Pei's savings account balance is $11,000 today. Pei opened the account exactly 8 years ago with a $10,000 deposit. Pei has made no other deposits
Pei's savings account balance is $11,000 today. Pei opened the account exactly 8 years ago with a $10,000 deposit. Pei has made no other deposits or withdrawals. What annual interest rate (compounded annually) has the account earned? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
9th Edition
032431986X, 9780324319866
