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What is the nominal rate of return on this investment

A one-time business investment today of $25,000 promises to return $10,000 annually for the next 3 years, with no salvage value at the end of the project. What is the nominal rate of return on this investment during the period, before inflation? [EXCEL Formula = RATE] A. 40.00% B. 6.02% C. 9.70% D. 4.84%

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Business Economics: What is the nominal rate of return on this investment

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