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12. Jack deposits 1,000 into an account on 01/01/13. Jill deposits 500 into an account on 01/01/14, and another 600 into the account on 01/01/15.
12. Jack deposits 1,000 into an account on 01/01/13. Jill deposits 500 into an account on 01/01/14, and another 600 into the account on 01/01/15. On 01/01/17 the balances in the two accounts are equal. The accounts earned the same annual effective rate. What was the interest rate? A) 6.2% B) 6.4% C) 6.6% D) 6.8% E) 7.0%
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