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Imagine that you contribute to your savings account $9,900 every quarter. If you would like to have $2M after 18 years, what should be
Imagine that you contribute to your savings account $9,900 every quarter. If you would like to have $2M after 18 years, what should be the effective annual rate (EAR) of this savings account? (Note: All answers are rounded to the closest two decimals) 10.44% 10.84% 9.94% 10.24% 10.64%
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