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What interest rate (the nearest percent) must Charlie earn on a $452,000 investment today so that he will have $1,140,000 after 12 years? Use the
What interest rate (the nearest percent) must Charlie earn on a $452,000 investment today so that he will have $1,140,000 after 12 years?
Use the information below to get answer:
$452,500 = $1,140,000 x PVF12, i=? 0.39693 = PVF12, i=? i = 8% (0.39711 = PVF12, i=8% )
(We will be using a 4 function calculator)
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