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It is now January 1, 2019, and you will need $1,000 on January 1, 2023, in 4 years. Suppose you can deposit only $200 each
It is now January 1, 2019, and you will need $1,000 on January 1, 2023, in 4 years.
Suppose you can deposit only $200 each January 1 from 2020 through 2023 (4 years). What interest rate, with annual compounding, must you earn to end up with $1,000 on January 1, 2023?
Note: answer is a percentage, enter only the number with 2 decimal places
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