Question: Consider the project balances in the table below for a typical investment project with a service life of four years. Project Balance -$13,000 -11,500 -9,500

Consider the project balances in the table below for a typical

Consider the project balances in the table below for a typical investment project with a service life of four years. Project Balance -$13,000 -11,500 -9,500 8,500 -$13,000 2,140 4 100 (a) Determine the interest rate used in computing the project balance The interest rate is 1 %. (Round to the nearest whole number)

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