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You recently paid $13,500 for an investment that promises to pay$675 at the wns of the next 6 ueqrs, then additional lump sum payment of
You recently paid $13,500 for an investment that promises to pay$675 at the wns of the next 6 ueqrs, then additional lump sum payment of $15,500 at the end of the 6th year. What is expected rate of return on this investment?
a. 8.9%
b. 8.0%
c. 9.5%
d. 10.2%
e. 7.1%
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