Question
To save forretirement, Karla Harby put $300 each month into an ordinary annuity for 16 years. Interest was compounded monthly. At the end of the
To save forretirement, Karla Harby put $300 each month into an ordinary annuity for 16 years. Interest was compounded monthly. At the end of the 16 years, the annuity was worth $109,771. What annual interest rate did shereceive?
The interest rate she received was approximately _______%
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Microeconomics
Authors: Roger A Arnold
13th Edition
1337617407, 9781337617406
