The Annual Rate, R, Compounded Annually, It Takes for 1

question 69

Multiple Choice

The annual rate, r, compounded annually, it takes for 1 dollar to grow to D dollars in 3 years is given by the formula . Find the rate necessary for a dollar to double in 3 years. ​

• A) 26.0%
• B) 100.0%
• C) 126.0%
• D) 28.7%
• E) 33.3%

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