Milton desires to have $6, 442 on deposit five years from today.If he has $4, 000 to deposit, what rate of interest, compounded annually, must be obtained to accumulate the desired $6, 442 in five years?
A)12%
B)10%
C)9%
D)8%

Name: Milton desires to have $6, 442 on deposit five years from today.If he has $4, 000 to deposit, what rate of interest, compounded annually, must be obtained to accumulate the desired $6, 442 in five years? A)12% B)10% C)9% D)8%
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Question

Quizplus · Accepted Answer

The Answer is B

Milton Desires to Have $6, 442 on Deposit Five Years