You have been told that you need $15,000 today for every $50,000 you want when you retire

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You have been told that you need $15,000 today for every $50,000 you want when you retire 30 years from now. What rate of interest was used in the present value computation? Assume interest is compounded annually

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Posted Date: Feb 23, 2024 02:53 AM

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You have been told that you need $15,000 today for every $50,000 you want when you retire

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Expert Answer:

The formula to calculate Rate of Interest is as follows ... View the full answer

Engineering economy

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