Interest rate is earned when investment doubles

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Reference no: EM131870376

1. Your friend wants to retire and has $375,000. She expects to live for another 25 years, and she also expects to earn 7.5% semiannually on her invested funds. How much could she withdraw at the beginning of each of the next 25 years and end up with zero in the account?

2. Approximately what interest rate is earned when an investment doubles over 11.3 years? (Round your answer to 2 decimal places.)

Interest rate %

Reference no: EM131870376

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