Multiple Choice
You currently have $67,000 in an interest-earning account.From this account,you wish to make 20 year-end payments of $5,000 each.What annual rate of return must you make on this account to meet your objective?
A) 4.16%
B) 5.03%
C) 6.42%
D) 7.32%
Correct Answer:
Verified
Correct Answer:
Verified
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