Question: Need help please TB MC Qu. 5-96 (Static) You want to invest... You want to make five annual payments of $6,000 beginning now in order
Need help please

TB MC Qu. 5-96 (Static) You want to invest... You want to make five annual payments of $6,000 beginning now in order to accumulate $35,000 for a down payment on a house in five years. What is the annual interest rate you would need to receive to accomplish this goal? Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole percentage. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
Step by Step Solution
3.43 Rating (156 Votes )
There are 3 Steps involved in it
Calculation of interest rate fro... View full answer
Get step-by-step solutions from verified subject matter experts
