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What annual rate was earned on the account

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Reference no: EM133005917

Problem 1: An account was opened with an investment of $1,000 ten years ago. The ending balance in the account is $1,500. If interest was compounded quarterly, what annual rate was earned on the account?

Select one:

a. 2.22%

b. 4.14%

c. 2.96%

d. 4.08%

Reference no: EM133005917

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