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You Need a Down Payment of $19,000 in Order to Purchase

Question 1

Multiple Choice

You need a down payment of $19,000 in order to purchase your first home 4 years from today.You currently have $14,014 to invest.In order to achieve your goal,what nominal interest rate,compounded continuously,must you earn on this investment?


A) 7.61%
B) 7.99%
C) 8.39%
D) 8.81%
E) 9.25%

Correct Answer:

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