Question

Suppose you deposit $2,262.00 into an account today. In 11.00 years the account is worth $3,855.00. The account earned ____% per year.

Answer 1

4.97 %

Step-by-step explanation:

Data and Calculation :

PV = - $2,262.00

N = 11.00

FV = $3,855.00

P/YR = 1

PMT = $0

I/YR = ? 4.97 %

THUS,

The account earned 4.97 % per year.