Homework Help: Finance for decision makers

Posted by usha on Sunday, February 1, 2009 at 9:20pm.

Joe Nautilus has $120,000 and wants to retire. What return must his money earn so he may receive annual benefits of $20,000 for the next 14 years.
a) 12%
b)Between 12% and 13%
c) 14%
d) Greater than 15%

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