You have made an investment today of 5000 that will pay you 250 per month over the

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You have made an investment today of 5000 that will pay you 250 per month over the next two years(24 payments) and you will receive your first payment today. What is the effective annual rate of the return on this investment?

A 19.75%

B 22.24%

C 13.21%

D 16.55%

E 21.77%

Related Book For answer-question

Modern Advanced Accounting in Canada

ISBN: 978-1259087554

7th edition

Authors: Hilton Murray, Herauf Darrell

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Posted Date: Jul 14, 2022 01:24 AM

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You have made an investment today of 5000 that will pay you 250 per month over the

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Modern Advanced Accounting in Canada

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