Answered: we have $1,000 and we are offered to…

we have $1,000 and we are offered to put it in investments that will double this money in 8 years, what is the annual rate of return? O a. 9% O b. 10% O c. 6% O d 8%

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 2P

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we have $1,000 and we are offered to put it in investments that will double this money in 8 years, what is the annual rate of return?
O a. 9%
O b. 10%
c. 6%
O d. 8%

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