Which annual interest rate, compounded annually, would result in option 1 having a value $1,561 higher than
Fantastic news! We've Found the answer you've been seeking!
Question:
Which annual interest rate, compounded annually, would result in option 1 having a value $1,561 higher than option 2 at the end of the state lottery payout period?
Here are the answer choices, i think it can be more than one, but not sure.
2.5%
4%
6.7%
7.6%
8.2%
9.49%
10.26%
14.38%
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Posted Date: