Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What annual interest rate ( APR ) would you need to earn if you wanted a $ 4 0 0 per month contribution to grow

What annual interest rate (APR) would you need to earn if you wanted a $400 per month contribution to grow to $32,668 in five years?
Selected Answer:
[None Given]
Answers:
6.47 percent
7.76 percent
12.00 percent
14.70 percent
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contemporary Quantitative Finance

Authors: Carl Chiarella, Alexander Novikov

2010th Edition

3642034780, 978-3642034787

More Books

Students also viewed these Finance questions

Question

1. Which is the most abundant gas presented in the atmosphere?

Answered: 1 week ago

Question

Identify three ways to manage an intergenerational workforce.

Answered: 1 week ago

Question

Prepare a Porters Five Forces analysis.

Answered: 1 week ago

Question

Analyze the impact of mergers and acquisitions on employees.

Answered: 1 week ago