Calculate the Effective Annual Rate, If $100 Grew to $165

question 4

Multiple Choice

Calculate the effective annual rate, if $100 grew to $165 in 11.5 years with quarterly compounding.

• A) 10.94%
• B) 4.38%
• C) 7.87%
• D) 7.22%
• E) 4.45%

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Definitions:

Culture-explicit

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