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$15,000 Is Invested into an Account That Earns Interest at J4

Question 121

Multiple Choice

$15,000 is invested into an account that earns interest at j4 = x%.There are no other deposits made into the account.At the end of 15 years,the accumulated value of the account is $45,000.Determine x.


A) 1.85%
B) 2.00%
C) 7.39%
D) 8.00%

Correct Answer:

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