You purchase a $1,000 asset for $800. It pays $60 a year for seven years at which time you receive the $1,000 principal. Prove that the annual return on this investment is not 9 percent.

 

please use this google drive link to download the answer file.

https://drive.google.com/file/d/1HqsvA5-bklUixSd76B5ff6u1fxDBA1hZ/view?usp=sharing

note: if you have any trouble in viewing/downloading the answer from the given link, please use this below guide to understand the whole process.

https://helpinhomework.org/blog/how-to-obtain-answer-through-google-drive-link