Calculate the interest rate implied (approx.), where PV=1000, n=5, FV=1436.
A. 5.6%
B. 6.2%
C. 7.5%
D. 9.2%
Answer:C
Calculate the interest rate implied (approx.), where PV=1000, n=5, FV=1436.
A. 5.6% B. 6.2% C. 7.5% D. 9.2%