Answered: What interest rate (the nearest…

What interest rate (the nearest percent) must Charlie earn on a $616000 investment today so that he will have $1170000 after 11 years? A.)4%. B.)7%. C.)6%. D.)5%

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 6PROB

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Question

What interest rate (the nearest percent) must Charlie earn on a $616000 investment today so that he will have $1170000 after 11 years?

A.)4%.

B.)7%.

C.)6%.

D.)5%.

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