if you have $60,000 and spend $6,500 dollars on medical expenses are you eligible for tax deduction? and how much A) No she is n
1 answer:
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Answer:
6.91%
Explanation:
In this question we use the RATE formula that is shown on the attachment below:
Given that,
Present value = $1,050
Assuming figure - Future value or Face value = $1,000
PMT = 1,000 × 8% ÷ 2
NPER = 15 years
The formula is shown below:
= Rate(NPER;PMT;-PV;FV;type)
The present value come in negative
So, after solving this, the rate of return is 6.91%
