Multiple Choice
What annual interest rate is required to accumulate $6,802.50 in four years from an investment of $5,000? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)
A) 8%
B) 12%
C) 10%
D) 15%
E) 5%
Correct Answer:
Verified
Correct Answer:
Verified
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