Answered: Frank invests $ 5500 dollars into an…

Frank invests $ 5500 dollars into an account earning interest compounded quarterly. After 7 years there is $ 6500 in the account. What was the interest rate? Interest rate =

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter7: Exponents And Exponential Functions

Section7.7: Writing Exponential Functions

Problem 36PFA

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Frank invests $ 5500 dollars into an account earning interest compounded quarterly. After 7 years there is $ 6500 in the account. What was the interest rate?

Interest rate =

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