Multiple Choice
Dire invested $10,000 today in an investment that has a maturity value of $13,500 in five years. If the interest is compounded annually, what is the annual rate of return earned on the investment?
A) 7.8%
B) 8.2%
C) 6.2%
D) 4.5%
E) 9.5%
Correct Answer:
Verified
Correct Answer:
Verified
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