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  3. 3. mary invested $1,000 and found two years later

3. Mary invested $1,000 and found two years later that the investment has fallen to...

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Finance

3. Mary invested $1,000 and found two years later that the investment has fallen to $600. Mary hopes that the investment will get back to even during the next two years.

a. What was the annual rate of return in the first two years? (7.5 marks)

b. What rate would need to be earned in the next two years to break even? (7.5 marks)

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