The town of Hogansville investing their current tax revenu all that money in a startup railroa Million in 7 years. To the nearest have earned on this investment?

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: The Basic Tools Of Finance
Section: Chapter Questions
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The town of Hogansville, KY is planning for future municipal development by
investing their current tax revenues. They have $250 Million now, and they want to invest
all that money in a startup railroad box car factory. They expect to receive a return of $800
Million in 7 years. To the nearest 0.1%, find the annual interest rate that Hogansville
have earned on this investment?
will
Transcribed Image Text:The town of Hogansville, KY is planning for future municipal development by investing their current tax revenues. They have $250 Million now, and they want to invest all that money in a startup railroad box car factory. They expect to receive a return of $800 Million in 7 years. To the nearest 0.1%, find the annual interest rate that Hogansville have earned on this investment? will
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