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QUESTION

What quarterly compounded rate of interest will an investor need to earn if an investment of $50,000.00 is to grow to be worth $500,000.00 over a 30

What quarterly compounded rate of interest will an investor need to earn if an investment of $50,000.00 is to grow to be worth $500,000.00 over a 30 year period?

[Final answer initially 4-decimal places and then converted to % with 2-decimal places: ##.#### >>>##.##%].

[Can be solved by Formula or TVM-Calculator method].

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