Multiple Choice
Chuck is looking to invest $15,000 now so that he can purchase a new car in 4 years. The expected price of the car, after tax, title and registration, is expected to be $18,232.65. What is the interest rate required on Chuck's investment to achieve this amount?
A) 4%
B) 5%
C) 6%
D) 7%
Correct Answer:
Verified
Correct Answer:
Verified
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