A present amount of $2,200is equivalent to $3,460after8years when the annual compounded interest rate is equal to:

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A present amount of $2,200 is equivalent to $3,460 after 8 years when the annual compounded interest rate is equal to:

(A) 7.16%

(B) 5.82%

(D) 6.07%

(E) NONE

Related Book For answer-question

Fundamentals of Financial Management

ISBN: 978-0324597707

12th edition

Authors: Eugene F. Brigham, Joel F. Houston

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Posted Date: Nov 20, 2023 08:06 AM

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A present amount of $2,200is equivalent to $3,460after8years when the annual compounded interest rate is equal to:

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Fundamentals of Financial Management

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