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(Advanced Analysis) Kara Has $2,000 to Invest Today That She

Question 276

Multiple Choice

(Advanced analysis) Kara has $2,000 to invest today that she wants to grow to $3,000 in five years. What annually compounded rate of interest would she have to earn to reach her goal?


A) 4.6 percent
B) 6.5 percent
C) 8.4 percent
D) 9.3 percent

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