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Your friend claims that he invested $5,000 seven years ago and that this investment is worth $38,700 today. For this to be true, what annual

Your friend claims that he invested $5,000 seven years ago and that this investment is worth $38,700 today. For this to be true, what annual rate of return did he have to earn? Assume the interest compounds annually. 28.87% 31.39% 33.96% 37.87%

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