Register
Morgan is going to invest $8,200 and leave it in an account for 10 years. Assuming the interest is compounded monthly, what interest rate, to the nearest hundredth of a percent, would be required in order
158k views
14 votes
Morgan is going to invest $8,200 and leave it in an account for 10 years. Assuming

the interest is compounded monthly, what interest rate, to the nearest hundredth of a
percent, would be required in order for Morgan to end up with $16,500?

User Ben Marini
by
5.7k points

2 Answers

11 votes

Answer:

4.9%

Explanation:

User Fifigyuri
by
6.2k points
11 votes

Answer: r ≈ 7.01%

Explanation:

User Mwilliams
by
5.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.5m questions

8.6m answers

Other Questions

What is the least common denominator of the four fractions 20 7/10 20 3/4 18 9/10 20 18/25
What is 0.12 expressed as a fraction in simplest form
Solve using square root or factoring method plz help!!!!.....must click on pic to see the whole problem
What is the initial value and what does it represent? $4, the cost per item $4, the cost of the catalog $6, the cost per item $6, the cost of the catalog?
What is distributive property ?
Link Copied!