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You plan to accumulate $447,000 over a period of 13 years by making equal annual deposits in an account that pays an annual interest rate
You plan to accumulate $447,000 over a period of 13 years by making equal annual deposits in an account that pays an annual interest rate of 9% (assume all payments will occur at the end of each year). What amount must you deposit each year to reach your goal? $15,722.33 $17,866.29 $145,801.86 $207,476.04 $19,474.25 You are told that if you invest $12,100 per year for 25 years (all payments made at the end of each year) you will have accumulated $606,000 at the end of the period. What annual rate of return is the investment offering? 5.35% 5.00% 4.36% 5.94% 6.63% You are offered an investment with a quoted annual interest rate of 11% with semi- annual compounding of interest. What is your effective annual interest rate? 11.68% 11.18% 10.71% 11.30% 11.00%
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