What is the rate of return on an investment of $16,278 if the company expects to receive $3,000 per year for the next ten years?
A) 18 percent
B) 13 percent
C) 8 percent
D) 3 percent
E) 10 percent

Name: What is the rate of return on an investment of $16,278 if the company expects to receive $3,000 per year for the next ten years? A) 18 percent B) 13 percent C) 8 percent D) 3 percent E) 10 percent
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Question

Quizplus · Accepted Answer

Using a financial calculator:
N = 10, PV = -16,278, PMT = 3,000, FV = 0, cpt I/Y = 13%

What Is the Rate of Return on an Investment of $16,278