Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 9EB: If you invest $15,000 today, how much will you have in (for further instructions on future value in...
Question
![You want to buy a $30,000 car in 4 years. If you have $20,000 today, what
interest rate do you need? What is I/Y?
10.34
10.67
10.34%
10.67%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F34033ca9-86b3-4746-8320-bdeedb4e3a62%2Fcf388b53-b5ce-4e2b-a63a-778cffee2fd8%2Fiksks0m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You want to buy a $30,000 car in 4 years. If you have $20,000 today, what
interest rate do you need? What is I/Y?
10.34
10.67
10.34%
10.67%
Expert Solution
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