HISTORICAL QUEST In 1981 Home Federal offered an FDIC-insured account that would quadruple your investment in 10

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HISTORICAL QUEST In 1981 Home Federal offered an FDIC-insured account that would "quadruple your investment in 10 years." What was the rate of this investment (to the nearest tenth percent) if we assume annual compounding? Use the formula

\[A=P\left(1+\frac{r}{n}ight)^{n t}\]

for \(n=1 .\)

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