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QUESTION
1. Greg bought a very rare gold coin for $9,000. He hopes that this coin will be worth $50,000 in 18 years when his newborn graduates from high school. What is the simple interest rate the ring would
1. Greg bought a very rare gold coin for $9,000. He hopes that this coin will be worth $50,000 in 18 years when his newborn graduates from high school. What is the simple interest rate the ring would need to grow by in order to reach his desired value?
