Question

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?

Answer 1

5000=2000/1 hshshsjsnndjskbdjs

Answer 2

r = 4.95046%

r ≈ 4.95%