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Again, suppose you plan to invest $20,000 for 3 years. Your money will be compounded semi-annually. What rate of return, r, would cause this amount

Again, suppose you plan to invest $20,000 for 3 years. Your money will be compounded semi-annually. What rate of return, r, would cause this amount to grow to $25,000? NOTE: Your final result must be annualized.

7.72%

3.71%

7.58%

None of the above

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