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Evan is going to invest $2,800 and leave it in an account for 12 years. Assuming the interest is compounded annually, what interest rate, to the nearest hundredth of a percent, would be required in order
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6 votes
6 votes
Evan is going to invest $2,800 and leave it in an account for 12 years. Assuming the

interest is compounded annually, what interest rate, to the nearest hundredth of a
percent, would be required in order for Evan to end up with $5,000?

User Jayaprakash
by
2.8k points

2 Answers

13 votes
13 votes

Answer:

5000=2000/1 hshshsjsnndjskbdjs

User Neil Shweky
by
2.9k points
25 votes
25 votes

Answer:

r = 4.95046%

r ≈ 4.95%

User Gwendolyn
by
2.7k points
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