What rate of return must he earn in order to have the


Mr. Fish wants to build a house in ten years. He estimates that the total cost will be $150,000. 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 8% and 10%

b)Between 6% and 8%

c)Above 10%

d)Between 4% and 6%

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Financial Management: What rate of return must he earn in order to have the
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