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Karen currently has an account balance of $7,062.25. She opened the account 17 years ago with a deposit of $2,640.95. If the interest compounds monthly, what is the interest rate on the account?
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Karen currently has an account balance of $7,062.25. She opened the account 17 years ago with a deposit of $2,640.95. If the interest compounds monthly, what is the interest rate on the account?

User Adi Rohan
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1 Answer

4 votes
The interest rate is 0.4833333%
User Frank Denis
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