Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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What is the required interest rate of this financial accounting question?
Transcribed Image Text:The management of Bright star Investments Ltd is assessing
an investment plan. The company wants to know the interest
rate that will quadruple an initial investment in 12 years.
What is the required interest rate?
a. 12.25%
b. 14.87%
c. 10.75%
d. 18.92%
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