Homework Answers
Ans 16.50%
| FV = | Future Value |
| PV = | Present Value |
| r = | rate of interest |
| n= | no of period |
| FV/ PV = | (1 + r )^n |
| 1250 / 500 = | (1 + r%)^6 |
| 2.5 = | (1 + r%)^6 |
| r = | 16.50% |
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