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Determining the what interest rate

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Reference no: EM132460436

It is now January 1, 2019, and you will need $1,000 on January 1, 2023, in 4 years.

If you have only $750 on January 1, 2020, what interest rate, compounded annually for 3 years, must you earn to have $1,000 on January 1, 2023?

Note: answer is a percentage, enter only the number with two decimal places

Reference no: EM132460436

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