Multiple Choice
(Ignore income taxes in this problem.) You have deposited $24,764 in a special account that has a guaranteed rate of return.If you withdraw $4,300 at the end of each year for 9 years,you will completely exhaust the balance in the account.The guaranteed rate of return is closest to:
A) 6%
B) 10%
C) 17%
D) 56%
Correct Answer:
Verified
Correct Answer:
Verified
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