Answer:
$84.93
Step-by-step explanation:
Future value in year 4 =
PV x ( 1 + r)^n
PV = present value = $500
r = 4%
n = 4
$500(1.04)^4 = $584.93
Interest rate = future value - amount invested = $584.93 - $500 = $84.93
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