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Ten Years Ago, You Put $150,000 into an Interest-Earning Account

Question 6

Multiple Choice

Ten years ago, you put $150,000 into an interest-earning account. Today it is worth $275,000. What is the effective annual interest earned on the account?


A) $225,000
B) 6.00%
C) 6.25%
D) 8.33%
E) 74.99%

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