Five years ago, you seized an investment opportunity and invested $15,000 into this opportunity. Today, the value of your investment has surged to $22, 300. What is the interest rate at which your investment grew? A) 5%. B) 5.05 %. C) 5.25 %. D) 8.25 %.

Five years ago, you seized an investment opportunity and invested $15,000 into this opportunity. Today, the value of your investment has surged to $22, 300. What is the interest rate at which your investment grew? A) 5%. B) 5.05 %. C) 5.25 %. D) 8.25 %.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Five years ago, you seized an investment opportunity and invested $15,000 into this opportunity.
Today, the value of your investment has surged to $22, 300. What is the interest rate at which your
investment grew? A) 5%. B) 5.05 %. C) 5.25%. D) 8.25%.

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