Question: Problem 0 2 . 0 4 9 - Calculation of unknown interest rate An A&E firm planning for a future expansion deposited $ 5 0

Problem 02.049- Calculation of unknown interest rate
An A&E firm planning for a future expansion deposited $50,000 each year for 5 years into a sinking (investment) fund that was to pay
an unknown rate of return. If the account had a total of $460,000 immediately after the fifth deposit, what rate of return did the
company make on these deposits?
The rate of return that the company made was
Problem 02.049- Calculation of unknown interest rate An A&E firm planning

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