Register
Blake is going to invest $79,000 and leave it in an account for 9 years. Assuming the interest is compounded monthly, what interest rate, to the nearest tenth of a percent, would be required in order for
105k views
13 votes
Blake is going to invest $79,000 and leave it in an account for 9 years. Assuming the interest is compounded monthly, what interest rate, to the nearest tenth of a percent, would be required in order for Blake to end up with $96,000?

User Abish R
by
7.0k points

1 Answer

14 votes

Answer:

r =2.2%

Explanation:

User Pondidum
by
7.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.2m questions

9.6m answers

Other Questions

How do you estimate of 4 5/8 X 1/3
Please solve the following equation. x-6x=56
whats the most accurate estimation of 65+77
Find the additive inverse of 18/23
What is 25% of 500.00
Link Copied!