Let interest rate be x%
At this rate;present value of annuity=3500
3500=1000/1.0x+1000/1.0x^2+1000/1.0x^3+1000/1.0x^4
Hence x=interest rate=5.56%(Approx).
Av= 14. What is the interest rate of a 4-year, annual $1.000 annuity with present value...
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