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Mackenzie is going to invest $3,900 and leave it in an account for 16 years. Assuming the interest is compounded daily, what interest rate, to the nearest hundredth of a percent, would be required in order
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Mackenzie is going to invest $3,900 and leave it in an account for 16 years. Assuming

the interest is compounded daily, what interest rate, to the nearest hundredth of a
percent, would be required in order for Mackenzie to end up with $5,800?

User GoalBased
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1 Answer

4 votes

Answer: 2.48%

..................................................

User David Crookes
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7.1k points
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