Multiple Choice
You buy an investment today for $9,000. You sell the investment in 120 days for $9,500. The effective annual rate on this investment is
A) 13.76%
B) 14.35%
C) 15.56%
D) 16.90%
E) 17.87% (9,500/9000) (365/120) - 1
Correct Answer:
Verified
Correct Answer:
Verified
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