Define what is the rate of return for the annual permit

Reference no: EM132200142

Question: You are deciding whether to purchase an annual pass or two, semester parking permits. Annual permits cost $670. Semester permits cost $183 due on August 15th and January 15th. Assuming monthly compounding, what is the rate of return for the annual permit?

This all the information that was provided to me by the professor. Please solve.

Reference no: EM132200142

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