Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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If the present discounted value of $1,562 received 7 years from now is $1,123, what is the interest rate, to the nearest 0.01%?
Give typing answer with explanation and conclusion
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