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This morning, you purchased a rare coin for $12,500. The coin has been appreciating in value at an annual rate of 9.6 percent and is

This morning, you purchased a rare coin for $12,500. The coin has been appreciating in value at an annual rate of 9.6 percent and is expected to continue doing so. How long will it be until the coin is worth $20,000?

A. 5.42 years

B. 5.13 years

C. 5.63 years

D. 5.87 years

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