Answered: Find the interest rate for a $9000…

Find the interest rate for a $9000 deposit accumulating to $11,517.62, compounded quarterly for 9 years. ... The interest rate is %. (Round to two decimal places as needed.)

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 25E

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Question

Find the interest rate for a $9000 deposit accumulating to $11,517.62, compounded quarterly for 9 years.
The interest rate is
%.
(Round to two decimal places as needed.)

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