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With Month Payment of $580 into a Savings Account,in 5

Question 66

Multiple Choice

With month payment of $580 into a savings account,in 5 years,Allen finally accumulates $80,000 for his dream trip to travel around the world.What could be the effective rate of interest that Allen's savings account enjoys in the 5-year term?


A) 18.37%
B) 20.84%
C) 35.11%
D) 10.75%

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