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Find the Interest Rate Needed for an Investment of $4,000

Question 84

Multiple Choice

Find the interest rate needed for an investment of $4,000 to grow to an amount of $8,500 in 3 year(s) if interest is compounded monthly. Round your answer to two decimal places. ​


A) 25.52%
B) 25.39%
C) 25.13%
D) 25.93%

Correct Answer:

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