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15 November, 10:35

Suppose that an investment of $13,000 grows in value at a rate of 9% per year. What is the growth factor for this investment?

a.

0.09

c.

1.09

b.

1/9

d.

9

+5
Answers (1)
  1. 15 November, 12:18
    0
    Growth rate is 9%,

    so your growth factor will be (100+9) % = 109% = 109/100 = 1.09
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