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Sky invests $150,000 today and receives a future value 9 years from now of $275,000....

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Question

Finance

Sky invests $150,000 today and receives a future value 9 years from now of $275,000. Interest is compounded twice per year. Her stated annual interest rate is _____ for this twice-a-year compounded investment.

Select one:

a. 6.8%

b. 9.4%

c. 6.3%

d. 7.0%

e. 8.2%

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