Solution-Percent annual interest rate

Percent annual interest rate

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Reference no: EM131397675

Ten years ago, Jane invested $1,000 and locked in a 7 percent annual interest rate for 30 years (end 20 years from now). James can made a 20-year investment today and lock in a 6 percent interest rate. How much money should he invest now in order to have the same amount of money in 20 years as Jane?

$2,373.54
$1,206.59
$673.75
$1,967.15

Reference no: EM131397675

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Percent annual interest rate

Reference no: EM131397675

Reference no: EM131397675

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