Question Hank made payments of $ style=”color:rgb(0,0,0);”>106 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for $99,434. What annual interest rate would he need to earn on an ordinary annuity for a comparable rate of return?
Question
Hank made payments of $ style=”color:rgb(0,0,0);”>106 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for $99,434.
What annual interest rate would he need to earn on an ordinary annuity for a comparable rate of return?
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