What rate of interest will you have to get per year if you would like to buy a car for $68,500 at the end of 11 years, if you start a money-market account with $3,000 and are ready to deposit $400 at the end of each month? 3.45% 4.00% 5.43% 6.31%

What rate of interest will you have to get per year if you would like to buy a car for $68,500 at the end of 11 years, if you start a money-market account with $3,000 and are ready to deposit $400 at the end of each month? 3.45% 4.00% 5.43% 6.31%

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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		3.45%
		4.00%
		5.43%
		6.31%

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