Question

Alexander is going to invest $1,900 and leave it in an

account for 7 years. Assuming the interest is
compounded monthly, what interest rate, to the nearest
tenth of a percent, would be required in order for
Alexander to end up with $3,100?

Answer 1

3,100= 1,900 +84x

right since 84 months in 7 years

so 14.3% right?