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Question
If it were evaluated with an interest rate of 0 percent, a 10-year regular annuity would have a present value of $3,755. If the future (compounded) value of this annuity, evaluated at Year 10, is $5,440.22, what effective annual interest rate must the analyst be using to find the future value?
a. 7%
b. 8%
c. 9%
d. 10%
e. 11%
Answer
This answer is hidden. It contains 457 characters.
Related questions
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