Multiple Choice
What EAR is being earned on a deposit of $5,000 made ten years ago today if the deposit is worth $9,948.94 today? The deposit pays interest semi-annually.
A) 3.56 percent
B) 6.76 percent
C) 7.00 percent
D) 7.12 percent $9,948.94 = $5,000
Correct Answer:
Verified
Correct Answer:
Verified
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