Ken Francis is offered the possibility of investing $2,745 today; in return, he would receive $10,000 after 15 years. What is the annual rate of interest for this investment?
Ken Francis is offered the possibility of investing $2,745 today; in return, he would receive $10,000 after 15 years. What is the annual rate of interest for this investment?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 6PROB
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Ken Francis is offered the possibility of investing $2,745 today; in return, he would receive $10,000 after
15 years. What is the annual rate of interest for this investment?
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