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An investment promises to quadruple your money in nine years. If the interest is compounded monthly,...

An investment promises to quadruple your money in nine years. If the interest is compounded monthly, what effective annual rate would you earn? (Hint: Calculate the monthly rate and convert that to the effective annual rate, EAR.) A. 25.99% B. 16.65% C. 18.92% D. 21.90% E. 31.95% F. 41.42%

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