In a recessionary economy, interest rate on deposits can be 0 percent. However, Raymond has an investment

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In a recessionary economy, interest rate on deposits can be 0 percent. However, Raymond has an investment of $25 000 now, and in three years it will mature and pay Raymond $32 000. What is the approximate rate of return on his investment?

A) 8.3 percent

B) 8.6 percent

C) 8.9 percent

D) Insufficient information to calculate this question

Related Book For answer-question

Global business today

ISBN: 9780073210544

5th Edition

Authors: Charles W. L. Hill

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Posted Date: Sep 28, 2020 08:46 AM

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In a recessionary economy, interest rate on deposits can be 0 percent. However, Raymond has an investment

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