Mr. Fish wants to build a house in 10 years. - 604

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  • Posted on: Thu 01 Mar, 2012
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Mr. Fish wants to build a house in 10 years. He estimates that the total cost will be $170,000. If he can put aside $10,000 at the end of each year, what rate of return must he earn in order to have the amount needed?
A) Between 11% and 12%
B) Between 8% and 9%
C) 17%
D) None of the above

 


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