What is the implied rate of interest

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Reference no: EM131974810

You want to purchase a new truck that will cost $18,000. You currently have $12,000. You can earn 7% interest. How long until you will be able to buy the truck? You are looking at an investment that will pay $10,000 in 18 years if you invest $2,500 today. What is the implied rate of interest? You made an investment 5 years ago that is now worth $9,835.76. if the investment earned 6% per year, how much was the original investment?

Reference no: EM131974810

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