Gayathri has RM5,000 now in her investment account. She wishes to have RM8,000 in her account after 9 years, but she was informed by the investment firm that she will have RM7,000 in her account in 8 years, what is the interest rate per year she gains from her account? Select one: a. 4.30% b. 3.81% c. 5.31% d. 6.05%

Gayathri has RM5,000 now in her investment account. She wishes to have RM8,000 in her account after 9 years, but she was informed by the investment firm that she will have RM7,000 in her account in 8 years, what is the interest rate per year she gains from her account? Select one: a. 4.30% b. 3.81% c. 5.31% d. 6.05%

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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