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Setler79 [48]
2 years ago
7

If Jane Key invests $18,527.74 now and she will receive $40,000 at the end of 10 years, what annual rate of interest will she be

earning on her investment?
A. 8.5%
B. 10%
C. 8%
D. 9%
Business
1 answer:
SSSSS [86.1K]2 years ago
4 0

Answer:

C. 8%

Explanation:

Future value factor:

= $18527.74 / $40000

= 0.4631935

At 8% for 10 years the future value factor is 0.4631935

Note: Proof of calculation is attached below as picture

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