You deposit $118 in an account that pays interest with annual compounding. If the account contains $145

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You deposit $118 in an account that pays interest with annual compounding. If the account contains $145 exactly 4 years from today, what is the annual interest rate?

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Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: Oct 13, 2023 02:15 AM

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You deposit $118 in an account that pays interest with annual compounding. If the account contains $145

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To determine the annual interest rate we can use the formula for compound ... View the full answer

Principles of Finance

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