Multiple Choice
Phil has $2,000, and he needs it to grow to $4,000 in 8 years. Assuming he does not add any more money to this fund, what rate of interest would he need to earn? (Round the rate of interest to the nearest whole number.)
A) 6%
B) 7%
C) 8%
D) 9%
E) 10%
Correct Answer:
Verified
Correct Answer:
Verified
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