Calculate, to the Nearest 0

question 23

Multiple Choice

Calculate, to the nearest 0.1%, what annual interest rate would be required if you invested $6,000 in Apple stock and ended up with $15,622 when you sold the stock after 5 years Assume that interest was compounded quarterly. ?

• A)19.4%
• B) 19.6%
• C) 20.0%
• D) 20.2%
• E) None of these

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Revenues earned in one accounting period but not received until a later period.

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