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(Related to Checkpoint 5.6) (Solving for i ) At what annual interest rate, compounded annually, would $490 have to be invested for it to grow
(Related to Checkpoint 5.6) (Solving for i ) At what annual interest rate, compounded annually, would $490 have to be invested for it to grow to $1,936.99 in 12 years? The annual interest rate, compounded annually, at which $490 must be invested for it to grow to $1,936.99 in 12 years is \%. (Round to two decimal places.)
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