Calculate the annual interest rate, Finance Basics

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Calculate the annual interest rate

Problem: Which is the better deal... $740 invested for 9 months with 7% p.a. simple interest or 6.5% p.a. compounding weekly? Justify your answer. Calculate the annual interest rate, as a percentage correct to 2 decimal places, for an investment to double in 4 years if compounding annually.

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Finance Basics: Calculate the annual interest rate

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