13 years ago, Sallie invested \$23{,}000.00$23,000.00 into a savings account. She now has \$33{,}091.00$33,091.00. What simple interest rate was her savings account earning? Assume the interest rate has not changed since the account was opened.
13 years ago, Sallie invested \$23{,}000.00$23,000.00 into a savings account. She now has \$33{,}091.00$33,091.00. What simple interest rate was her savings account earning? Assume the interest rate has not changed since the account was opened.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 3MC: Refer to the present value table information on the previous page. If Kathleen put 3,000 in a...
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13 years ago, Sallie invested \$23{,}000.00$23,000.00 into a savings account. She now has \$33{,}091.00$33,091.00. What simple interest rate was her savings account earning? Assume the interest rate has not changed since the account was opened.
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