You buy an investment today for $9,000. You sell the investment in 120 days for $9,500. The effective annual rate on this investment is
A) 13.76%
B) 14.35%
C) 15.56%
D) 16.90%
E) 17.87% (9,500/9000) (365/120) - 1
Correct Answer:
Verified
Q21: An insurance company is trying to sell
Q22: You want to have $5 million when
Q23: Investment A pays 8% simple interest for
Q24: You go to the Wall Street Journal
Q25: An investment pays $400 in one year,
Q28: If M > 1 and you solve
Q29: Classify each of the following in terms
Q30: A bank manager lends a corporate client
Q31: An investor wants to be able to
Q44: Inflation causes the demand curve for loanable
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents