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Interest Rate: Sofie Wants to Invest $25,000 in a Spa

Question 90

Multiple Choice

Interest rate: Sofie wants to invest $25,000 in a spa that her sister is starting. She will triple her investment in six years. What is the rate of return that Sofie is being promised? (Rounded to the nearest per cent.)


A) 18%
B) 20%
C) 12%
D) 25%

Correct Answer:

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