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If you deposit $25,000 today and Union Bank offers to pay you $50,000 at the end of 10 years. What is the annual interest rate?

If you deposit $25,000 today and Union Bank offers to pay you $50,000 at the end of 10 years. What is the annual interest rate?
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4 votes
If you deposit $25,000 today and Union Bank offers to pay you $50,000 at the end of 10 years. What is the annual interest rate?

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User Mirsada
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1 Answer

3 votes
10% is the annual interest rate, you receive $2,500 a year which is 10% of the original $25,000 you deposited
answered
User LuGo
by
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