A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $1461.77 in the given time, what was the interest rate? (Round your answer to two decimal places.)
A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $1461.77 in the given time, what was the interest rate? (Round your answer to two decimal places.)
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 65SE: Jamal wants to save 54,000 for a down paymenton a home. How much will he need to invest in anaccount...
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A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $1461.77 in the given time, what was the interest rate? (Round your answer to two decimal places.)
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