FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are offered an investment opportunity for 30,409 . It promises a payout of 62,372 in 6 years. You want to compare it to an

image text in transcribed

You are offered an investment opportunity for 30,409 . It promises a payout of 62,372 in 6 years. You want to compare it to an investment with your cousin that would make 15%. What is the annual rate of return on this investment? Please enter your answer without the "\%" sign (in other words as 12.45 for 12.45% )

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_2

Step: 3

blur-text-image_3

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

Wealth Mastery Unveiled By Marcus M Dawson A Millennial S Guide To Financial Freedom And Success

Wealth Mastery Unveiled By Marcus M Dawson A Millennial S Guide To Financial Freedom And Success

Authors: Marcus M. Dawson

1st Edition

979-8865054313

More Books

Students also viewed these Finance questions

Question

★★★★★
Find the equation of the conic section that passes through the points (0, 0), (0, - 1), (2, 0), (2, - 5), and (4, - 1).

Answered: 1 week ago

Question

★★★★★
Please solve all questions and detail answers CLEARLY Dratif Corporation's working capital is $63,000 and its current liabilities are $200,000. The corporation's current ratio is closest to: Multiole...

Answered: 1 week ago

Question

★★★★★
5. The market demand curve for a good or service is the horizontal sum of the individual demand curves of all consumers in the market.

Answered: 1 week ago

Question

★★★★★
Classify the following decisions as being characteristic of strategic planning, tactical planning, managerial control, or operational control. Determining the mix of products to manufacture this year...

Answered: 1 week ago

Question

★★★★★
You are offered an investment opportunity for 30,409 . It promises a payout of 62,372 in 6 years. You want to compare it to an investment with your cousin that would make 15%. What is the annual rate...

Answered: 1 week ago

Question

★★★★★
United Charities, a not-for-profit entity, supports activities for lower-income families. They have regularly engaged in activities such as providing transportation for physically challenged...

Answered: 1 week ago

Question

★★★★★
Name and describe three of the most valuable skills or lessons you have learned thissemester in BUS1500. If you were to take this course again, name and describe three things that you would...

Answered: 1 week ago

Question

★★★★★
2-15. Dissociation of Molecules Through Electronic Excitation by Direct Electron Impact. Why does the electron energy threshold of dissociation through electronic excitation almost always exceed the...

Answered: 1 week ago

Question

★★★★★
Napa Company processes copper ore into two products, C and U. The ore costs $5 per pound and conversion costs are $15 per pound. Napa Company plans to produce 40,000 pounds of Product C and 20,000...

Answered: 1 week ago

Question

★★★★★
Problem 1 Given that any two countries in the world trade with each other, assume that each country's GDP has increased twice. How would you assess the world trade after this increase, considering...

Answered: 1 week ago

Question

★★★★★
The following function gives the cost, in dollars, of producing a kilograms of fertilizer: C(x)=0.001x- 0.14x + 7x + 160 What is the instantaneous rate of change of the cost when 50 kilograms are...

Answered: 1 week ago

Previous Question Next Question