Betty Willis will invest $28,700 today. She needs $175,323 in 21 years. Click here to view factor tables. What annual interest rate must she earn? (Round answer to 0 decimal places, e.g. 7%.) Interest rate 21 %

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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Betty Willis will invest $28,700 today. She needs $175,323 in 21 years.
Click here to view factor tables.
What annual interest rate must she earn? (Round answer to 0 decimal places, e.g. 7%.)
Interest rate
21
%
Transcribed Image Text:Betty Willis will invest $28,700 today. She needs $175,323 in 21 years. Click here to view factor tables. What annual interest rate must she earn? (Round answer to 0 decimal places, e.g. 7%.) Interest rate 21 %
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