The Milken Company is offering you an investment that promises you $10,000 at the end of 8 years if you invest $ 7,521 today. What is the annual return on this investment?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 9EA: If you invest $12,000 today, how much will you have in (for further Instructions on future value in...
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Question 14
The Milken Company is offering you an investment that promises you $10,000 at the
end of 8 years if you invest $ 7,521 today. What is the annual return on this
investment?
Compute your answer as a percent rounded to 2 decimal places. Record without a
percent sign. For example, record .0848765 = 8.48765% as 8.49.
Your Answer:
Transcribed Image Text:Question 14 The Milken Company is offering you an investment that promises you $10,000 at the end of 8 years if you invest $ 7,521 today. What is the annual return on this investment? Compute your answer as a percent rounded to 2 decimal places. Record without a percent sign. For example, record .0848765 = 8.48765% as 8.49. Your Answer:
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