Multiple Choice
Michael Lynch invested $10,000 in the Rearguard Fund four years ago. All earnings were reinvested in the fund. If his compound annual rate of return was 7%, what is his investment worth today (round to the nearest dollar) ?
A) $13,108
B) $10,700
C) $12,800
D) $763
Correct Answer:
Verified
Correct Answer:
Verified
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