Kenney Chesney decides to invest $ 43,630 today because he would like to build a guitar factory

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Kenney Chesney decides to invest $ 43,630 today because he would like to build a guitar factory for $ 100,000 in 17 years. Interest is compounded annually. What annual interest rate must he receive to reach the required amount?

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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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Question Posted: Nov 24, 2015 04:38 AM

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Kenney Chesney decides to invest $ 43,630 today because he would like to build a guitar factory

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Using the PV of 1 Table 7A2 where N 17 and IY is unknown PV FV x FACTOR ...View the full answer

Intermediate Accounting

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