At what annual rate would the following have to be invested? $7,054, to grow to $86,066,...

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Finance

At what annual rate would the following have to be invested?
$7,054, to grow to $86,066, in 32 years.

Answer & Explanation Solved by verified expert

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Solution Annual rate is r813 in two decimal r 813092 in 5 decimal Use as per requirement of question but remember when you take 5 or 6 decimal then you will get exact results not in two decimal as the question is decimal sensitive Working Notes Annual rate of See Answer

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At what annual rate would the following have to be invested? $7,054, to grow to $86,066,...

50.1K

Verified Solution

Question

Finance

At what annual rate would the following have to be invested?
$7,054, to grow to $86,066, in 32 years.

Answer & Explanation Solved by verified expert

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At what annual rate would the following have to be invested? $7,054, to grow to $86,066,...

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Finance

At what annual rate would the following have to be invested?$7,054, to grow to $86,066, in 32 years.

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At what annual rate would the following have to be invested?
$7,054, to grow to $86,066, in 32 years.