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PT Asset Max, an asset management company launched an investment product that has the following features: 1. The customer must make periodic payments of 1,000
PT Asset Max, an asset management company launched an investment product that has the following features:
1. The customer must make periodic payments of 1,000 at the beginning of each year for 20 years.
2. The product provides an effective interest rate of 5% per annum for the first 10 years and effective j per annum for the next 10 years.
It is known that the equivalent rate of return on the investment is 8%, determine the value of j.
Choose the closest answer
a. 9,0%
b. 9,4%
c. 9,8%
d. 10,2%
e. 10,6%
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