Multiple Choice
Milton desires to have $6, 442 on deposit five years from today.If he has $4, 000 to deposit, what rate of interest, compounded annually, must be obtained to accumulate the desired $6, 442 in five years?
A) 12%
B) 10%
C) 9%
D) 8%
Correct Answer:
Verified
Correct Answer:
Verified
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