Rate of return-Annuity What is the rate of return on an investment of $11,733 if the investor will receive $2,300 each year for the next 14 years? The rate of return on the investment, r, is%. (Round to two decimal places.)

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 15PROB
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Rate of return-Annuity What is the rate of return on an investment of $11,733 if the investor will receive $2,300 each year for
the next 14 years?
The rate of return on the investment, r, is %. (Round to two decimal places.)
Transcribed Image Text:Rate of return-Annuity What is the rate of return on an investment of $11,733 if the investor will receive $2,300 each year for the next 14 years? The rate of return on the investment, r, is %. (Round to two decimal places.)
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