Effective annual rate on the investment

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Reference no: EM13157363

You buy an investment today for $9,000. You sell the investment in 120 days for $9,500. The effective annual rate on this investment is:

a. 13.76%

b. 16.90%

c. 17.61%

d. 14.35%

e. 15.56%

Reference no: EM13157363

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