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storchak [24]
3 years ago
15

Good guys will pay you $3,800 a year for 10 years in exchange for $31,300 today. what interest rate will you earn on this annuit

y?
Mathematics
1 answer:
Anuta_ua [19.1K]3 years ago
5 0
I hope this helps you




in a year $3800



in 10 year 10.3800=38000



38000-31300=6700


in 10 year rate 6700


for a year rate ?




?.10=6700


?=670
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