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Homework: Chapter 5 Homework HW Score: Score: 0 of 1 pt Problem 5-10 (similar to) (Soving for in compound interest Yound a fr
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Answer #1

r = (FV/PV)1/t - 1

r = ($39,000/$14,000)1/12 - 1

r = 0.0891 or 8.91%

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