问题
单项选择题
A recent ad for a Roth IRA includes the statement that if a person invests $ 500 at the beginning of each month for 35 years, they could have $1000000 for retirement. Assuming monthly compounding, what annual interest rate is implied in this statement（）
A. 6. 988%.
B. 7.411%.
C. 7.625%.
答案
参考答案：B
解析：
Solve for an annuity due with a future value of $1000000, a number of periods equal to (35×12)=420, payments=-500, and present value=0.Solve for i:i=0.61761×12=7.411% stated annually. Don’t forget to set your calculator for payments at the beginning of the periods. If you don’t, you’ll get 7.437%.