Six Years Ago, Home Health Industries (HHI) Adopted a Plan

Multiple Choice

Six years ago, Home Health Industries (HHI) adopted a plan to expand its services next year. At the time the plan was adopted, HHI set aside $125,000 in excess funds to be held for this purpose. As of today, that money has increased in value to $186,408. What rate of interest is the firm earning on these funds?

A) 6.89%
B) 7.10%
C) 7.18%
D) 7.27%
E) 7.43%