An annuity has a deposit of $50 per month and a value of $10,000 after 8 years. What interest rate does it offer? 11.634% 9.405% а. b. 15.202% 7.452% с. d. е. 16.809%
An annuity has a deposit of $50 per month and a value of $10,000 after 8 years. What interest rate does it offer? 11.634% 9.405% а. b. 15.202% 7.452% с. d. е. 16.809%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![An annuity has a deposit of $50 per month and a value of $10,000 after 8 years. What
interest rate does it offer?
11.634%
9.405%
а.
b.
15.202%
7.452%
16.809%
с.
d.
е.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6372b71a-a2e7-451b-9f96-8728b88a118a%2Fcd58d64b-06f0-4f43-b0b8-8a12e4a33a2e%2Fsebhtss_processed.jpeg&w=3840&q=75)
Transcribed Image Text:An annuity has a deposit of $50 per month and a value of $10,000 after 8 years. What
interest rate does it offer?
11.634%
9.405%
а.
b.
15.202%
7.452%
16.809%
с.
d.
е.
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