Question: Question 9. (10 points): Your cousin has asked you to bankroll his proposed business painting houses in the summer. He plans to operate the business

Question 9. (10 points): Your cousin has asked you to bankroll

Question 9. (10 points): Your cousin has asked you to bankroll his proposed business painting houses in the summer. He plans to operate the business for 5 years to pay his way through college. He needs $15000 to purchase an old pickup truck, some ladders, a paint sprayer and some other equipment. He is promising to pay you $4500 at the end of each summer for 5 years. Calculate the annual rate of return

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