Multiple Choice
Ten years ago, Jackson Supply set aside $125,000 in case of a financial emergency. Today, that account has increased in value to $278,592. What rate of interest is the firm earning on this money?
A) 8.80 percent
B) 8.34 percent
C) 7.75 percent
D) 8.01 percent
E) 7.87 percent
Correct Answer:
Verified
Correct Answer:
Verified
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