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You need $60,000 to buy your BMW and now have $47,909.11 to invest starting today. You would like to buy the car in 5 years.

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You need $60,000 to buy your BMW and now have $47,909.11 to invest starting today. You would like to buy the car in 5 years. What rate of return will you need if the bank offers monthly compounding (round to two decimals)? Select one: O a. 4.29% O b. 4.51% O c. 4.89% O d. 5.00% O e. 5.18%

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