Elizabeth has $31,209.00 in an investment account. Her goal is to have the account grow to $118,806.00 in 15 years without having to make any additional contributions to the account. What effective annual rate of interest would she need to earn on the account in order to meet her goal? O 10.32% O 10.82% O 9.32% O 9.82% O 11.32%

Elizabeth has $31,209.00 in an investment account. Her goal is to have the account grow to $118,806.00 in 15 years without having to make any additional contributions to the account. What effective annual rate of interest would she need to earn on the account in order to meet her goal? O 10.32% O 10.82% O 9.32% O 9.82% O 11.32%

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 4MC: Refer to the present value table information on the previous page. What amount should Brett have in...

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