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NEW QUESTION: 1
An investment of $2,300 grows to $2,904 in 4 years. The annually compounded rate of return is:
A. 6.25%
B. 6.00%
C. 6.37%
D. 5.90%
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Let r be the annually compounded rate. Then, 2904 = 2300*(1+r)