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Which interest rate, to the nearest hundredth of a percent,

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1. For this exercise refer to the formulas for compound interest. A=P (1 + r/n) and Pe. Interest rate: At which interest rate, to the nearest hundredth of a percent, will $16,000 grow to $20,000 if invested for 5.25 yr and interest is compounded quarterly?

Reference no: EM13987254

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