You currently have $247,887.43 to deposit. Your banker offers you an annuity paying $25,000 per year for

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You currently have $247,887.43 to deposit. Your banker offers you an annuity paying $25,000 per year for the next 18 years. What implied rate is the banker offering? [Present the answer rounded to two decimal places. For instance 3.33]

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Financial Management for Public Health and Not for Profit Organizations

ISBN: 978-0132805667

4th edition

Authors: Steven A. Finkler, Thad Calabrese

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Posted Date: Feb 26, 2024 06:40 AM

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You currently have $247,887.43 to deposit. Your banker offers you an annuity paying $25,000 per year for

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We can use the present value PV formula of an annuity to find the ... View the full answer

Financial Management for Public Health and Not for Profit Organizations

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