Multiple Choice
If $100,000 is invested on December 31, 2014 to earn compound interest semiannually, and if the future value on December 31, 2020, is $225,219 what is the semiannual interest rate on the investment?
A) 7%
B) 6%
C) 5%
D) 8%
Correct Answer:
Verified
Correct Answer:
Verified
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