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Your financial advisor tells you that if you earn the historical rate of return on a certain mutual fund, then in three years your $20,000 will grow to $23,152.50, What rate of interest does your financial advisor expect you to earn? Oa.6 percent O b.5 percent OC8 percent Od.7 percent

Your financial advisor tells you that if you earn the historical rate of return on a certain mutual fund, then in three years your $20,000 will grow to $23,152.50, What rate of interest does your financial advisor expect you to earn? Oa.6 percent O b.5 percent OC8 percent Od.7 percent

Economics: Private and Public Choice (MindTap Course List)
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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Your financial advisor tells you that if you earn the historical rate of return on a certain mutual fund, then in three years your $20,000 will grow to $23,152.50, What rate of interest does your financial advisor expect you to earn? Oa.6 percent O b.5 percent OCB percent Od.7 percent
Transcribed Image Text:Your financial advisor tells you that if you earn the historical rate of return on a certain mutual fund, then in three years your $20,000 will grow to $23,152.50, What rate of interest does your financial advisor expect you to earn? Oa.6 percent O b.5 percent OCB percent Od.7 percent
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