A gift of $7000 to a city grew to $3,000,000 in 200 years. At what interest rate compounded annually would this growth occur? The interest rate would be%. (Do not round until the final answer. Then round to the nearest hundredth as needed.)
A gift of $7000 to a city grew to $3,000,000 in 200 years. At what interest rate compounded annually would this growth occur? The interest rate would be%. (Do not round until the final answer. Then round to the nearest hundredth as needed.)
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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![A gift of $7000 to a city grew to $3,000,000 in 200 years. At what interest rate compounded annually would this
growth occur?
The interest rate would be %.
(Do not round until the final answer. Then round to the nearest hundredth as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc1dbc87c-2169-4896-a66f-9c36d81636e1%2Fdeeb54f7-e4d1-4555-914f-5809fc335a4b%2Fbc332uwo_processed.png&w=3840&q=75)
Transcribed Image Text:A gift of $7000 to a city grew to $3,000,000 in 200 years. At what interest rate compounded annually would this
growth occur?
The interest rate would be %.
(Do not round until the final answer. Then round to the nearest hundredth as needed.)
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