A DEPOSIT OF $3,500 MADE THREE YEARS AGO IS WORTH $5,200 TODAY. THE...

9. - EXAM SOLUTION 8 FUNDAMENTALS OF CORPORATE FINANCE, 4TH EDITION BREALEY

EXAM SOLUTION 8 FUNDAMENTALS OF CORPORATE FINANCE, 4TH EDITION BREALEY

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9. A deposit of $3,500 made three years ago is worth $5,200 today. The deposit

pays interest quarterly. What is the APR with quarterly compounding on this

deposit?

A) 12.97%

B) 13.42%

C) 14.15%

D) 15.54%