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Every month for the past eight years you have invested $50 in a mutual fund. Today, your account is valued at $6,419. What rate of
Every month for the past eight years you have invested $50 in a mutual fund. Today, your account is valued at $6,419. What rate of return have you been earning on this investment?
A)7.03 percentB)5.86 percentC)6.29 percentD)6.54 percent
Please explain the working of this and how to solve on Financial calculator and excel.
Thanks!
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