Maggie deposits \$10,000 today and is promised...

### Related Test Maggie deposits \$10,000 today and is promised a return of \$17,000 in eight years. What is the implied annual rate of return?
• a)
6.86 percent
• b)
7.06 percent
• c)
5.99 percent
• d)
6.07 percent KIRAN SANGRAME FV=PV(1+k)n
17,000=10,000(1+ k)8
8ln(1+k)=ln(1.7), therefore k=6.86%
Or using a financial calculator (TI BAII Plus),
N=8, PV= –10,000, PMT=0, FV=17,000, CPT I/Y=6.86%

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Maggie deposits \$10,000 today and is promised a return of \$17,000 in eight years. What is the implied annual rate of return?a)6.86 percentb)7.06 percentc)5.99 percentd)6.07 percentCorrect answer is option 'A'. Can you explain this answer?  View courses related to this question Explore CA Foundation courses
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Maggie deposits \$10,000 today and is promised a return of \$17,000 in eight years. What is the implied annual rate of return?a)6.86 percentb)7.06 percentc)5.99 percentd)6.07 percentCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2023 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Maggie deposits \$10,000 today and is promised a return of \$17,000 in eight years. What is the implied annual rate of return?a)6.86 percentb)7.06 percentc)5.99 percentd)6.07 percentCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2023 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Maggie deposits \$10,000 today and is promised a return of \$17,000 in eight years. What is the implied annual rate of return?a)6.86 percentb)7.06 percentc)5.99 percentd)6.07 percentCorrect answer is option 'A'. Can you explain this answer?.
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