Phil Has $2,000 and He Needs It to Grow to $4,000

question 125

Multiple Choice

Phil has $2,000 and he needs it to grow to $4,000 in 8 years.Assuming he adds no more money to this fund,what rate of return would he need to earn?

• A)6%
• B)7%
• C)8%
• D)9%
• E)10%

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