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You have a savings goal of $122,130. If you plan to invest $15,000 each year for 7 years, what rate of interest must you
You have a savings goal of $122,130. If you plan to invest $15,000 each year for 7 years, what rate of interest must you earn in order to meet your goal? Show the formula and all work.
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To calculate the rate of interest needed to meet your savings goal we can use the future value of an ...
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Financial Accounting Theory and Analysis Text and Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
10th edition
470646284, 978-0470646281
