Question
Set your calculator to 4 or more decimal places. 1. You invest $7,000 at the end of each year for 10 years. The investment value
Set your calculator to 4 or more decimal places.
1. You invest $7,000 at the end of each year for 10 years. The investment value at the end of 10 years is $106,351. What is the annual rate of return?
2. You invest $10,000 today at 8% APR. How long will it take for your investment to triple in value?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
1 To calculate the annual rate of return for an investment that grows to 106351 at the end of 10 yea...
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Step: 2
Step: 3
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Financial Accounting Information For Decisions
Authors: Robert w Ingram, Thomas L Albright
6th Edition
9780324313413, 324672705, 324313411, 978-0324672701
