You need $16,000 at the beginning of year 8. Ten years ago, you saved $4,000 for twelve years in the Eastern bank that pays 6% compounded annually. Starting from year 2, the interest rate you must earn is closest to: 14.4% 18% 12%
You need $16,000 at the beginning of year 8. Ten years ago, you saved $4,000 for twelve years in the Eastern bank that pays 6% compounded annually. Starting from year 2, the interest rate you must earn is closest to: 14.4% 18% 12%
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...
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You need $16,000 at the beginning of year 8. Ten years ago, you saved $4,000 for twelve years in the Eastern bank that pays 6% compounded annually. Starting from year 2, the interest rate you must earn is closest to:
14.4% |
||
18% |
||
12% |
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