The expected amount to replace or duplicate a property after 10 years after the effects of inflation and interest of money are considered is P 55996.95. If the price of the property at present is P10000 and the inflation rate is 8% per year, determine a) the interest rate per year b) the interest earned after 10 years and c) interest earned after 5 years.

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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The expected amount to replace or duplicate a property after 10 years after the effects of inflation and interest of money are considered is P 55996.95. If the price of the property at present is P10000 and the inflation rate is 8% per year, determine a) the interest rate per year b) the interest earned after 10 years and c) interest earned after 5 years.
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