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You made an investment of $13,500 into an account that paid you an annual interest...

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Finance

You made an investment of $13,500 into an account that paid you an annual interest rate of 2.5 percent for the first 8 years and 6.9 percent for the next 5 years. What was your annual rate of return over the entire 13 years?

Multiple Choice

4.17 percent

4.63 percent

3.34 percent

3.75 percent

4.70 percent

Answer & Explanation Solved by verified expert
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