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Posted on Aug 08, 2024

Suppose you have $ 2 2 , 6 0 0 today. You would like to be able to buy a car that will cost $

Suppose you have $

22, 600

today. You would like to be able to buy a car that will cost $

37, 400

13

years. What annually compounded interest rate would you need to earn in order to be able to buy

the car? Enter your answer as a percentage rounded

2

decimal places. Do not enter the

%

sign.

Enter your answer below.

%

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