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Five years ago, you seized an investment opportunity and invested $15,000 into this opportunity. Today, the value of your investment has surged to $22, 300. What is the interest rate at which your investment grew? A) 5%. B) 5.05 %. C) 5.25 %. D) 8.25 %.

Five years ago, you seized an investment opportunity and invested $15,000 into this opportunity. Today, the value of your investment has surged to $22, 300. What is the interest rate at which your investment grew? A) 5%. B) 5.05 %. C) 5.25 %. D) 8.25 %.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Five years ago, you seized an investment opportunity and invested $15,000 into this opportunity. Today, the value of your investment has surged to $22, 300. What is the interest rate at which your investment grew? A) 5%. B) 5.05 %. C) 5.25%. D) 8.25%.
Transcribed Image Text:Five years ago, you seized an investment opportunity and invested $15,000 into this opportunity. Today, the value of your investment has surged to $22, 300. What is the interest rate at which your investment grew? A) 5%. B) 5.05 %. C) 5.25%. D) 8.25%.
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