The effective rate of interest, if $1,000 compounds to $1,331 in 3 years is how much percent?

asked Feb 26, 2019 213k views

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3 votes

I believe it is close to 4.4 percent a year or 13.2 over 3 years.

Yjzhang answered Feb 28, 2019

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4 votes

Answer:

I don't know the math behind it, but the correct answer is 10%

Explanation:

Jeff Puckett answered Mar 5, 2019

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