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An investment will pay you $3045.73 in 2 years if you pay $2215.19 today. What is the implied rate of return? (Convert to a percent.

  • An investment will pay you $3045.73 in 2 years if you pay $2215.19 today. What is the implied rate of return? (Convert to a percent. Round to 2 decimal places.)

     

    This problem set includes questions where you will be required to solve for:

    1. rate (r)

    2. time (t)

    3. PV of a lump sum

    4. FV of a lump sum

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