Multiple Choice
Solve the problem. Round to the nearest cent as needed.
-An actuary for a pension fund need to have $14.6 million grow to $22 million in 6 years.What interest rate compounded annually does he need for this investment to growth as specified.Round your answer to the nearest hundredth of a percent.
A) 0.07%
B) 7%
C) 7.7%
D) 7.07%
Correct Answer:
Verified
Correct Answer:
Verified
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