Calculating Rate of Return : A finance company advertise in a newspaper that it shall pay a lumpsum of $100,000.00 at the end of 5 years to investors who deposit annually $15,000.00 for 5 years. What is the interest rate implicit in this offer?
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Calculating Rate of Return : A finance company advertise in a newspaper that
it shall pay a lumpsum of $100,000.00 at the end of 5 years to investors who deposit annually $15,000.00 for 5 years. What is the interest rate implicit in this offer?