A leading broker has advertised money multiplier certificates that will triple your money in ten...
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Accounting
A leading broker has advertised money multiplier certificates that will triple your money in ten years; that is, if you buy one for $2,333.33 today, it will pay you $7,000 at the end of ten years. What rate of return will you earn on these money multiplier certificates? Use Table I or a financial calculator to answer the question. Round your answer to two decimal places.
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