You need a down payment of $17,200 in order to purchase your first home 4 years from today. You currently have $14,014 to invest. In order to achieve your goal, what nominal interest rate, compounded continuously, must you earn on this investment? Do not round your intermediate calculations.
A. 5.48%
B. 5.12%
C. 3.84%
D. 4.46%
E. 6.20%
Answer: B
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