Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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
Transcribed Image Text:Rambus Diagnostics has extra funds to invest for future capital expansion. If the selected investment pays
simple interest, what interest rate would be required for the amount to grow from $56,000 to $96,000 in
five years?
The required interest rate would be
%.
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