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What must the interest rate be

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Question: Consider a deposit of $200 made at the end of the year. Deposits grow at a rate of 5 percent each year for another 5 years. The goal is to save $2500 at the end of 8 years. What must the interest rate be? The response must be typed, double spaced, times new roman, font size 12 and must follow APA format.

Reference no: EM132752827

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