You are told that if you invest $11,600 per year for 18 years (all payments made at the beginning of each year) you will have accumulated $375,000 at the end of the period. What annual rate of return is the investment offering?

You are told that if you invest $11,600 per year for 18 years (all payments made at the beginning of each year) you will have accumulated $375,000 at the end of the period. What annual rate of return is the investment offering?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 12E

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You are told that if you invest $11,600 per year for 18 years (all payments made at the beginning of each year) you will have accumulated $375,000 at the end of the period. What annual rate of
return is the investment offering?

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