What rate must it be compounded annually

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Reference no: EM131540753

(Spreadsheet problem) In 16 years, you would like to have $240,000 to buy a vacation home. If you have only $50,000 , at what rate must it be compounded annually for it to grow to $240,000 in 16 years?

If you have only $50,000 at what rate must it be compounded annually for it to grow to $240,000 in 16 years?

% (Round to two decimal places.)

Reference no: EM131540753

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