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The Toronto Cancer Society needs $70,000 for the purchase of a new cancer treatment piece...

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Accounting

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The Toronto Cancer Society needs $70,000 for the purchase of a new cancer treatment piece of equipment in four years. If The Toronto Cancer Society is able to deposit $47,811 at the beginning of this year, what rate of interest - compounded annually - must The Toronto Cancer Society receive to fund the purchase of this piece of equipment in four years? Multiple Choice 7% 9% 8% 11% 10%

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