Answered: What compounded annual interest rate…

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Finance

What compounded annual interest rate was recover by the owner of the house?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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A homeowner purchased a house 30 years ago by $85,000, today the house value is $140,000. What compounded annual interest rate was recover by the owner of the house?

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