Answered

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Suppose that you wish to save $20, 000 at the end of 5 years by making the following deposits:
= 0:$2000
= 1:$3000
= 2:$3000
= 3:$4000
= 4:$1500
= 5:$2500
What must the interest rate be (or what is the implied interest rate) ?

Sagot :

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