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You are saving money to purchase a new vehicle. Three years ago, you set aside $ 2 3 , 0 0 0 for this purpose.

You are saving money to purchase a new vehicle. Three years ago, you set aside $23,000 for this purpose. To account is worth $31,406. What annually compounded rate of interest are you earning on your investment?
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9.47%
9.01%
8.23%
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