Basics Of Engineering Economy
Basics Of Engineering Economy
2nd Edition
ISBN: 9780073376356
Author: Leland Blank, Anthony Tarquin
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 5, Problem 3P
To determine

Calculate the annual income.

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Iselt Welding has extra funds to invest for future capital expansion. If the selected investment pays simple interest, what annual interest rate would be required for the amount to grow from $60,000 to $90,000 in 5 years?
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