Suppose that you have the opportunity to invest $1100 at the end of each of the next 16 months. This investment promises to pay you $15,000 immediately after you make the last payment at the end of month 16. What is the EAR of this investment opportunity? Enter your answer as a percent without the "%" sign. Round your final answer to two decimals.

Suppose that you have the opportunity to invest $1100 at the end of each of the next 16 months. This investment promises to pay you $15,000 immediately after you make the last payment at the end of month 16. What is the EAR of this investment opportunity? Enter your answer as a percent without the "%" sign. Round your final answer to two decimals.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 4P

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