An investor was afraid that he would become like King Lear in his retirement and beg hospitality from his children, so he purchased grain "tithes," or shares in farm output, for 460 pounds. The tithes paid him 61 pounds per year for 32 years. What interest rate did the he receive on this investment?

An investor was afraid that he would become like King Lear in his retirement and beg hospitality from his children, so he purchased grain "tithes," or shares in farm output, for 460 pounds. The tithes paid him 61 pounds per year for 32 years. What interest rate did the he receive on this investment?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 19DQ

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