Please help me answer the following time value of money question. Michael makes a $500 investment.  At the end of 5 years, he has 700. Assuming that the interest is compounded monthly, what is the interest rate earned on his investment?

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A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

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Q: An investor requires an annual (year-end) income of $15,000 in perpetuity. Assuming a fixed rate of…

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