Solve the Problem. -Find the Interest Rate Necessary for a Present Value of Present

question 119

Multiple Choice

Solve the problem.
-Find the interest rate necessary for a present value of $18,401 to grow to a future value of $21,559.70 if interest is compounded quarterly for two years.

• A) 10%
• B) 12%
• C) 6%
• D) 8%

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