Multiple Choice
An account was opened with an investment of $1,000 ten years ago. The ending balance in the account is $1,500. If interest was compounded annually, what rate was earned on the account?
A) 1.0%
B) 2.2%
C) 2.9%
D) 3.8%
E) 4.1%
Correct Answer:
Verified
Correct Answer:
Verified
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