Average annual rate earned on investment
Question: An investor deposits $180,000 into a fixed, 5-year CD with annual compounding. At the maturity date, the CD is worth $211,000. What average annual rate was earned on this investment?a. 3.04%
b. 3.23%
c. 14.69%
d. 17.22%
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At the maturity date, the CD is worth $211,000. What average annual rate was earned on this investment?
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