Question: a. You have purchased a security for $939.50, which will pay you $1000 when it matures in 10 years. Please calculate interest rate earned. b.

a. You have purchased a security for $939.50, which will pay you $1000 when it matures in 10 years. Please calculate interest rate earned.

b. How many years would it take to triple your money, if the bank was paying 13.25%, compounded annually?

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