menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Finance Applications and Theory Study Set 3
  4. Exam
    Exam 5: Time Value of Money 2: Analyzing Annuity Cash Flows
  5. Question
    What Annual Interest Rate Would You Need to Earn If
Solved

What Annual Interest Rate Would You Need to Earn If

Question 21

Question 21

Multiple Choice

What annual interest rate would you need to earn if you wanted a $200 per month contribution to grow to $14,700 in five years?


A) 6.47 percent
B) 7.76 percent
C) 8.01 percent
D) 14.70 percent

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q16: The present value of annuity payments made

Q17: Jasmine has decided that she wants to

Q18: You deposit $1,000 today and want to

Q19: The simple form of an annualized interest

Q20: What is the present value of a

Q22: Compute the future value in year 4

Q23: Your current $115,000 mortgage calls for monthly

Q24: Which of the following will increase the

Q25: Your company borrows $75,000 today to fund

Q26: When you get your credit card bill,

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines