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A Company Is Creating a Fund by Depositing $65,763 Today

question 45

Essay

A company is creating a fund by depositing $65,763 today.The fund will grow to $90,000 after eight years.What annual interest rate is the company earning on the fund?


Definitions:

Hippocampus

A region of the brain that plays a key role in memory formation and spatial navigation.

Elaborative Rehearsal

A memory technique that involves thinking about the meaning of the term to be remembered, as opposed to mere repetition.

Maintenance

The process of preserving something’s condition or functionality through regular checkups, repairs, and necessary updates.

Massed

Pertaining to a practice schedule where tasks are performed in long, unbroken intervals without rest, contrasting with spaced practice.

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