Multiple Choice
Danny invests $124 090 in a fund and expects to receive $10 000 per year for the next 30 years.What is the approximate interest rate provided on the annuity?
A) 8 percent
B) 6 percent
C) 9 percent
D) 7 percent
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q9: What is the highest effective rate attainable
Q38: The nominal interest rate is the actual
Q43: If the interest rate is zero,the future
Q47: Julian is a student relying on student
Q56: The effective interest rate is the stated
Q63: The future value of $676 deposited at
Q64: How much interest would Aleem save if
Q80: What is the term for the interest
Q81: The effective rate of interest and compounding
Q83: The higher the interest rate,the higher the