COSCO invested $5.5 million in a project ten years ago. As of today the worth of this project is $24.9 million. What annual interest rate has the project been earning if interest is compounded monthly?
A) 14.2%
B) 14.8%
C) 15.2%
D) 15.8%
E) 16.2%
Correct Answer:
Verified
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