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Floyd Ferris Invested $3000 into an Account Five Years Ago

Question 37

Multiple Choice

Floyd Ferris invested $3000 into an account five years ago.Today his account has grown to have a balance of $3927.50.Given that his account offered monthly compounding of interest,the APR on this account is closest to:


A) 5.00%.
B) 5.25%.
C) 5.40%.
D) 5.54%.

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