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QUESTION
You are talking to your roommate about an investment proposal he was offered. The proposal indicated that you could double your money in 6 years.
You are talking to your roommate about an investment proposal he was offered. The proposal indicated that you could double your money in 6 years. According to his reasoning, that would be an annual rate of 16.67% per year. Do you agree with his assessment that he would earn that rate?
