Question: The simple interest rate per year that will accumulate the same amount of money in 2 years as a compound interest rate of 20% per

The simple interest rate per year that will accumulate the same amount of money in 2 years as a compound interest rate of 20% per year is closest to:

(a) 20.5%

(b) 21%

(c) 22%

(d ) 23%

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