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Russel Index tracks the average performance of various groups of stocks. On average, a $ 1 0 , 0 0 0 investment in midcap growth

Russel Index tracks the average performance of various groups of stocks. On average, a $

10, 000

investment in midcap growth funds over a

10 -

year period would grow to $

63, 000 .

What is the annual nominal rate if interest is compounded monthly.

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