Time Value of Money Illustration 29
A finance company advertises that it will pay a lump sum of 44,650 at the end of five years to investors who deposit annually 6,000 for 5 years. What is the interest rate implicit in this offer?
Time Value of Money Illustration 29
A finance company advertises that it will pay a lump sum of 44,650 at the end of five years to investors who deposit annually 6,000 for 5 years. What is the interest rate implicit in this offer?
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