(Solving for i) An insurance agent just offered you a new insurance product that will provide you with $963.60 12 years from now if you invest $200 today. What annual rate of interest would you earn if you invested in this product? The annual rate of interest you would earn if you invested in this product is%. (Round to the nearest whole percent.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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(Solving for i) An insurance agent just offered you a new insurance product that will provide you with $963.60 12
years from now if you invest $200 today. What annual rate of interest would you earn if you invested in
this product?
The annual rate of interest you would earn if you invested in this product is %. (Round to the nearest
whole percent.)
Transcribed Image Text:(Solving for i) An insurance agent just offered you a new insurance product that will provide you with $963.60 12 years from now if you invest $200 today. What annual rate of interest would you earn if you invested in this product? The annual rate of interest you would earn if you invested in this product is %. (Round to the nearest whole percent.)
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