What rate would you have to invest lump-sum amount today

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Reference no: EM131511117

At approximately what rate would you have to invest a lump-sum amount today if you need the mount to double in six years? Assume interest is compounded annually.

a) 20%

b) 12%

c) 24%

d) Not enough information is provided to answer the question

e) None of the above is a correct answer

Reference no: EM131511117

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