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Mar 01, 2:2 Nolan is going to invest $96,000 and leave it in an account for 6 years. Assuming the interest is compounded monthly, what interest rate, to the nearest hundredth of a percent, would be required
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9 votes
Mar 01, 2:2

Nolan is going to invest $96,000 and leave it in an account for 6 years. Assuming the
interest is compounded monthly, what interest rate, to the nearest hundredth of a
percent, would be required in order for Nolan to end
up
with $142,000?

User Maxdebayser
by
4.3k points

2 Answers

11 votes

Answer:

put it this way 10% Is 9600 and 1% is 960

Explanation:

so if it stacks monthly you can find your answer

also if you lookup compound interest calculator it will help you will future problems

User Lambros
by
3.4k points
4 votes

Answer: its 6.54

Step-by-step explanation: its right on delta math

User AliCivil
by
3.4k points
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