Answers
We use the formula:
A=P(1+r/52)^52n
where
A=future value
P=present value
r=rate of interest
n=time period.
467000=159000*(1+r/52)^(52*10)
(467000/159000)^(1/520)=(1+r/52)
(1+r/52)=1.002074119
r=(1.002074119-1)*52
=10.79%(Approx).
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