Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question 6. One day, a letter arrives in your mailbox. The letter comes from a trusted attorney
firm, indicating that you have inherited $500,000 USD from a long lost relative, and that such
amount has been accumulated over the last 50 years thanks to
know from family hearsay that the initial amount was 50 times smaller than the current
amount. What was the original interest rate?」
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