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18 May, 20:48

Mike is considering investing $18,500 in an investment that will have a maturity value of $32,500 in 8 years. if the interest is compounded monthly, what is the annual rate of return earned on the investment?

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  1. 18 May, 20:55
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    Mike is considering investing $18,500 in an investment that will have a maturity value of $32,500 in 8 years. if the interest is compounded monthly, what is the annual rate of return earned on the investment?

    7.06%
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