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07-03-2017
Mathematics

contestada

Good guys will pay you $3,800 a year for 10 years in exchange for $31,300 today. what interest rate will you earn on this annuity?

Respuesta :

Аноним Аноним

07-03-2017

I hope this helps you

in a year $3800

in 10 year 10.3800=38000

38000-31300=6700

in 10 year rate 6700

for a year rate ?

?.10=6700

?=670

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