Multiple Choice
Find the rate of interest required to achieve the conditions set forth.
-If Jay bought a lot for $8,000 and sold it 15 years later for $24,000, what was her percentage rate of return on this investment if it was compounded annually?
A) 8.7104%
B) 9.6825%
C) 7.5990%
D) 3.7995%
Correct Answer:
Verified
Correct Answer:
Verified
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