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Question
Tim put $275 in the bank one year ago and forgot about it. Today, the bank sent Tim a statement indicating that he now has $294.25 in his account. What interest rate did Tim earn?a. 5 percent
b. 6 percent
c. 7 percent
d. 8 percent
Answer
This answer is hidden. It contains 1 characters.
Related questions
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d. A person decides to purchase only stocks that have paid high dividends in the past.
Q:
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Suppose the interest rate is 3% and that you are to receive three annual payments of $1,000, with the first payment today, the second payment one year from now, and the third payment two years from now. What is the present value of this stream of payments?
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Q:
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