You want to buy a house in 15 years and that will cost you $2...
50.1K
Verified Solution
Link Copied!
Question
Accounting
You want to buy a house in 15 years and that will cost you $2 million. Now, you only have $800,000. Find the interest rate that you need to buy the house in 15 years. (Hint: what should r be?) Round off your answer to 4 decimal places (for example, your answer should look like 0.1234 or 12.34%) show work.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
