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stranahan stranahan
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7 years ago
Josephine is seeking to expand her rare stamp collection. Each year, rare stamps increase in price at a three percent rate. She believes that if she invests her money for one year, she should be able to buy 16 stamps for what 15 stamps would cost today. What is her real interest rate (or reward for waiting)?
A) Her real interest rate is about 6.33%.
B) Her real interest rate is about 4.23%.
C) Her real interest rate is about 5.33%.
D) Her real interest rate is about 6.67%.
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
Author:
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macawmatanemacawmatane
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7 years ago
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stranahan Author
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#2
7 years ago
Thanks Smiling Face with Open Mouth and Tightly-closed Eyes
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