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You are considering a one-year investment. If you invest 1,100 you will get back 1,232. What rate is this investment paying? a. 9% b. 7%

You are considering a one-year investment. If you invest 1,100 you will get back 1,232. What rate is this investment paying?

a. 9% b. 7% c. 6% d. 12%

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