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NEW QUESTION: 1
You have $1,000 to invest today. In order for your $1,000 investment to grow to $1,480.25 at the end of 10 years, the money must be invested at what interest rate?
A. 3%
B. 4%
C. 3.5%
Answer: B
Explanation:
1/10
Rate = (1480.25/1000) - 1 = 4%.

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