Connect ecure https://newconnect.mheducation.com/flow/connect.html Denis t Assig

Question

Connect ecure https://newconnect.mheducation.com/flow/connect.html Denis t Assignments Help Save & Exit Su Ken Francis Is offered the e possibility of investing $7.231 today, In return, he would receive $15,500 after a8 e possibility of investing $7,231 today; in return, he would receve $15,500 after 8 years. What is the annual Investment? (PY of $1. FV of $1, PVA of $1. and FVA of $1) (Use approprlate factor(s) from the tables provided. Check my wor Round Pv factor to 4 decimals.) Present Value Future Value Single Interest Rate 7,231 s unt) 15,500

Explanation / Answer

Calculate interest rate

Present value / Future value = Present value of single amount Interest rate 7231 / 15500 = 0.4665 10%

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