At what annual rate would the following have to be


This set of problems is designed to be calculated using the Excel or financial calculator. You can also use algebraic formulas. Do not use financial tables to calculate these problems.

At what annual rate would the following have to be invested?

$1,099, to grow to $97,227, in 8 years.

Round the answer to two decimal places in percentage form.

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Financial Management: At what annual rate would the following have to be
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