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Suppose you have an investment opportunity that requires a $1,000 investment today and will have a $2,000 payoff in seven years. What is the annual

Suppose you have an investment opportunity that requires a $1,000 investment today and will have a $2,000 payoff in seven years. What is the annual rate of return on the investment?

Select one:

a. 9.05%

b. 10.41%

c. 12.25%

d. 14.87%

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