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Business, 13.03.2020 18:04 anaroles04

A recent ad for a Roth IRA includes the statement that if a person invests $500 at the beginning of each month for 35 years, they could have $1,000,000 for retirement. Assuming monthly compounding, what annual interest rate is implied in this statement? A) 6.988%. B) 7.625%. C) 7.411%. D) 7.212%.

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