You are required to pay 5000 for college fees for each of


Solving for an Interest Rate

You are required to pay $5,000 for college fees for each of the next four years, and a not-quite- as-generous uncle offers to give you $15,187 toward your college fees. What annual interest rate do you need to earn to allow you to invest the money and meet the four payments?

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Financial Accounting: You are required to pay 5000 for college fees for each of
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