Hank made payments of 178 per month at the end of each


Hank made payments of $178 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for $171,462. What annual interest rate would he need to earn on an ordinary annuity for a comparable rate of return.

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Finance Basics: Hank made payments of 178 per month at the end of each
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