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If $16000 Is Invested at an Interest Rate of 6

Question 260

Multiple Choice

If $16000 is invested at an interest rate of 6% for 25 years compounded continuously determine the annual growth rate if the money were compounded quarterly? Rounded to the nearest thousandth of a percent.


A) 0.011%
B) 6.000%
C) 6.184%
D) 0.060%
E) 106.184%

Correct Answer:

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