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Thirty years ago, your parents opened an investment account with a single deposit of $2,000. They never added any additional money to this account. Today,
Thirty years ago, your parents opened an investment account with a single deposit of $2,000. They never added any additional money to this account. Today, the account is worth $26,905. What average annual rate of return did they earn on their investment?
A. 8.90 percent
B. 8.96 percent
C. 9.05 percent
D. 9.12 percent
E. 9.24 percent
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