Question: Kirk Van Houten who has been married for 23 years

Kirk Van Houten, who has been married for 23 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30- year wedding anniversary. As sume that the cost of the ring will be $ 12,000 in 7 years. Kirk currently has $ 4,510 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?

View Solution:


Sale on SolutionInn
Sales0
Views127
Comments
  • CreatedSeptember 11, 2015
  • Files Included
Post your question
5000