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t is now January 1, 2019, and you will need $1,000 on January 1, 2023, in 4 years. 

Suppose you can deposit

only $200 each January 1 from 2020 through 2023 (4 years). What interest rate, with annual compounding, must you earn to end up with $1,000 on January 1, 2023?

Note: answer is a percentage, enter only the number with 2 decimal places

Top Answer

So, Interest Rate is 15.09%. If... View the full answer

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