Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
5th Edition
ISBN:9781305084766
Author:Saeed Moaveni
Publisher:Saeed Moaveni
Chapter20: Engineering Economics
Section: Chapter Questions
Problem 12P
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Question
If Allan invested a certain amount of money to the business of his friend and they agreed that Allan will receive 2.59 times his money if he is willing to wait for 15 years. Using simple interest, what is the agreed rate of return between Allan and his friend, percent?
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