Question: Three years ago, a firm set aside $ 2 3 , 0 0 0 to fund a future project. Today, that account is worth $

Three years ago, a firm set aside $23,000 to fund a future project. Today, that account is worth $31,406. What annual compounded rate of interest is the firm earning on this investment?
Multiple Choice
8.23%
9.01%
8.39%
10.94%
9.47%

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