What's the interest rate of a 8-year, annual $3,600 annuity with present value of $20,000? (Use a time value of money calculator or aspreadsheet. Round your answer to 2 decimal places.)Annuity interest rate%

Annuity amount=$3600Period of annuity=8yearsToday amount=$20000

What's the interest rate of a 8-year, annual $3,600 annuity with present value of $20,000? (Use a time value of money calculator spreadsheet. Round your answer to 2 decimal places.) Annuity interest rate %

What's the interest rate of a 8-year, annual $3,600 annuity with present value of $20,000? (Use a time value of money calculator spreadsheet. Round your answer to 2 decimal places.) Annuity interest rate %

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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What's the interest rate of a 8-year, annual $3,600 annuity with present value of $20,000? (Use a time value of money calculator or a
spreadsheet. Round your answer to 2 decimal places.)
Annuity interest rate
%

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