Find the interest rate needed for an investment of $10,000 to grow to an amount of $13,000 in 6 years if interest is compounded quarterly. (Round your answer to the nearest hundredth of a percentage point.)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section: Chapter Questions
Problem 65E
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Find the interest rate needed for an investment of $10,000 to grow to an amount of $13,000 in years if interest is compounded quarterly. (Round your answer to the nearest hundredth of a
percentage point.)
X %
Transcribed Image Text:Find the interest rate needed for an investment of $10,000 to grow to an amount of $13,000 in years if interest is compounded quarterly. (Round your answer to the nearest hundredth of a percentage point.) X %
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