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Sophia is going to invest $5,800 and leave it in an account for 5 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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Sophia is going to invest $5,800 and leave it in an account for 5 years. Assuming the

interest is compounded annually, what interest rate, to the nearest hundredth of a
percent, would be required in order for Sophia to end up with $7,500?

User Dhamith Kumara
by
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1 Answer

4 votes

Answer:

r≈5.28%

Explanation:

Sophia is going to invest $5,800 and leave it in an account for 5 years. Assuming-example-1
User Victor Ashik
by
7.0k points
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