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Posted: **Fri Mar 04, 2022 9:38 am**

: Item 2 Gio Used The Compound Interest Formula To Calculate The Final Value Of An Investment Of 4 000 Compounded Quarter 1 (211.51 KiB) Viewed 42 times

Item 2 Gio used the compound interest formula to calculate the final value of an investment of $4,000 compounded quarterly for 8 years. His calculation was as follows. A = $4,000(1.0235)32 What is the annual interest rate, rounded to the nearest hundredth of a percent? 2.35% 9.40% 24.50% 7.05%