a. An investment will pay you $4944.17 in 3 years if you pay $1299.58 today. What is

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a. An investment will pay you $4944.17 in 3 years if you pay $1299.58 today. What is the implied rate of return?

b. Your goal is to have $76386. If you can earn 10.78% per year and you invest $19812 today, how many years until you reach your goal?

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Personal Financial Planning

ISBN: 9780357438480

15th Edition

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: Jul 14, 2023 12:12 AM

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a. An investment will pay you $4944.17 in 3 years if you pay $1299.58 today. What is

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a To calculate the implied rate of return we can use the formula for compound interest Implied rate ... View the full answer

Personal Financial Planning

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