At what annual compound interest rate will a sum of money become 40 times itself in 2 years, if the interest is compounded annually? (Round your answer to one decimal place.)

Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM

Options

1. (A) 529.3%
2. (B) 537.9%
3. (C) 532.5%
4. (D) 538.3%

Verified Answer

Option (C): 532.5%

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