Ben Franklin's gift of $3,000 to New York City grew to $3,000,000 in 200 years. At what interest rate compounded annually would this growth occur? The interest rate would be 3.51 %. (Round to the nearest hund X You answered: 1.35 Get answer feedback
Ben Franklin's gift of $3,000 to New York City grew to $3,000,000 in 200 years. At what interest rate compounded annually would this growth occur? The interest rate would be 3.51 %. (Round to the nearest hund X You answered: 1.35 Get answer feedback
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
Problem 7SC
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Transcribed Image Text:Ben Franklin's gift of $3,000 to New York City grew to $3,000,000 in 200 years. At what interest rate compounded annually would this growth occur?
The interest rate would be 3.51 %.
(Round to the nearest hund
X
You answered: 1.35
Get answer feedback
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