You invest $6,000 You wish to put money into a savings account to earn enough to make

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You invest $6,000 You wish to put money into a savings account to earn enough to make a down payment on a house in 10 years.

You pay $6,000 for a security that you expect will be worth $25,000 exactly 10 years from now. The security will make no intermediate payments.

What is your annual return on this security?

Related Book For answer-question

Fundamentals Of Investing

ISBN: 9780135175217

14th Edition

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: May 04, 2023 01:02 AM

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You invest $6,000 You wish to put money into a savings account to earn enough to make

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To calculate the annual return on this security we can use the fo... View the full answer

Fundamentals Of Investing

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