Jose hopes to earn $700 interest in 3.8 years time from $14,000 that he has available to invest. To decide if it’s feasible to do this by investing in an account that compounds semi-annually, he needs to determine the annual interest rate such an account would have to offer for him to meet his goal. What would the annual rate of interest have to be? Round to two decimal places. Jose hopes to earn $700 in interest in 3.8 years time from $14,000 that he has available to invest. To decide if it's feasible to do this by investing in an account thatcompounds semi-annually, he needs to determine the annual interest rate such an account would have to offer for him to meet his goal. What would the annual rate ofinterest have to be? Round to two decimal places.AnswerHow to enter your answerE KeypadKeyboard Shortcuts

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Description: Jose hopes to earn $700 interest in 3.8 years time from $14,000 that he has available to invest. To decide if it’s feasible to do this by investing in an account that compounds semi-annually, he needs to determine the annual interest rate such an acc

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College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.1: Exponential Functions

Problem 66SE: Kyoko has 10,000 that she wants to invest. Her bankhas several investment accounts tochoose from,...

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Jose hopes to earn $700 interest in 3.8 years time from $14,000 that he has available to invest. To decide if it’s feasible to do this by investing in an account that compounds semi-annually, he needs to determine the annual interest rate such an account would have to offer for him to meet his goal. What would the annual rate of interest have to be? Round to two decimal places.

Jose hopes to earn $700 in interest in 3.8 years time from $14,000 that he has available to invest. To decide if it's feasible to do this by investing in an account that
compounds semi-annually, he needs to determine the annual interest rate such an account would have to offer for him to meet his goal. What would the annual rate of
interest have to be? Round to two decimal places.
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