Multiple Choice
You are planning for you newly arrived daughters education in 18 years when she heads off to university. You have a $1,000 and would like to have $10,000 when she enters school. What interest rate must be earned on your investment for this to be possible?
A) 7.22%
B) 19.65%
C) 13.65%
D) 11.12%
Correct Answer:
Verified
Correct Answer:
Verified
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