At what annual interest rate must $232,000 be invested so that it will grow to be $417,000 in 12 years? 5.67% 4.01% 6.66% 5.01% 8.31%

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 14EB: How much must be invested now to receive $50,000 for 8 years if the first $50,000 is received in one...
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At what annual interest rate must $232,000 be invested so that it will grow to be
$417,000 in 12 years?
5.67%
4.01%
6.66%
5.01%
8.31%
Transcribed Image Text:At what annual interest rate must $232,000 be invested so that it will grow to be $417,000 in 12 years? 5.67% 4.01% 6.66% 5.01% 8.31%
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