Question
To save forretirement, Karla Harby put $675 each month into an ordinary annuity for 19 years. Interest was compounded monthly. At the end of the
To save forretirement, Karla Harby put $675each month into an ordinary annuity for 19years. Interest was compounded monthly. At the end of the 19years, the annuity was worth $271,800.
What annual interest rate did shereceive______?
(Round to two decimal places asneeded.)
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Small Business Management Launching and Growing New Ventures
Authors: Justin Longenecker, Leo Donlevy, Terri Champion, William Petty, Leslie Palich, Frank Hoy
6th Canadian edition
176532218, 978-0176532215
