Rate of Return Pete Nance is going to invest $4,000 so he can buy a boat in

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Rate of Return Pete Nance is going to invest

$4,000 so he can buy a boat in the future. The boat is expected to cost $6,000. If Pete wants to buy the boat in ten years, what is the minimum return he must earn on his investment to have sufficient money for the purchase?

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Hemstone Ouma

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