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You purchased a new sports car 40 years ago at a cost of $4,4200. Today, you sold that car for $97,500. What annual rate of

You purchased a new sports car 40 years ago at a cost of $4,4200. Today, you sold that car for $97,500. What annual rate of return did you earn on the vehicle?

1.

7.62%
2.

7.99%
3.

8.04%
4.

8.38%

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