You are given an investment option by a friend. They promise you if you give them $1,000

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You are given an investment option by a friend. They promise you if you give them $1,000 today, they will give your $1,207.95 three years from today.If this is the case, what is the interest rate you are being given for this investment?

Related Book For answer-question

Intermediate Microeconomics

ISBN: 978-0393123968

9th edition

Authors: Hal R. Varian

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Posted Date: Feb 11, 2024 09:29 AM

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You are given an investment option by a friend. They promise you if you give them $1,000

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There are two ways to calculate the interest rate you are being offered M... View the full answer

Intermediate Microeconomics

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