estefanlionel255 estefanlionel255

15-12-2020
Business

contestada

If Jane Key invests $18,527.74 now and she will receive $40,000 at the end of 10 years, what annual rate of interest will she be earning on her investment?
A. 8.5%
B. 10%
C. 8%
D. 9%

Respuesta :

Tundexi Tundexi

15-12-2020

Answer:

C. 8%

Explanation:

Future value factor:

= $18527.74 / $40000

= 0.4631935

At 8% for 10 years the future value factor is 0.4631935

Note: Proof of calculation is attached below as picture

Ver imagen Tundexi

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