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Christian is going to invest $310 and leave it in an account for 20 years. Assuming the interest is compounded daily, what interest rate, to the nearest hundredth of a percent, …

Christian is going to invest $310 and leave it in an account for 20 years. Assuming the interest is compounded daily, what interest rate, to the nearest hundredth of a percent, …
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Christian is going to invest $310 and leave it in an account for 20 years. Assuming the interest is compounded daily, what interest rate, to the nearest hundredth of a percent, would be required in order for Christian to end up with $1,000?

User Anandan
by
8.1k points

1 Answer

4 votes

Answer:

r=5.86%

Explanation:

User Darryl Mendonez
by
9.0k points
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