Question
Pei's savings account balance is $13,000 today. Pei opened the account exactly 6 years ago with a $10,000 deposit. Pei has made no other deposits
Pei's savings account balance is $13,000 today. Pei opened the account exactly 6 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? (express your answer as a decimal, not as a percentage)
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Essentials of Managerial Finance
Authors: Scott Besley, Eugene F. Brigham
14th edition
324422709, 324422702, 978-0324422702
