Multiple Choice
Find the present value of the future value.
-Find the required annual interest rate, to the nearest tenth of a percent, for $5200 to grow to $6500 if interest is compounded quarterly for 7 years.
A) 1.6%
B) 0.8%
C) 4.0%
D) 3.2%
Correct Answer:
Verified
Correct Answer:
Verified
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