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.
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
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text: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.
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