Sam invests $2,000 in an account with an interest rate of 6.7% compounded annually for 3 years. What is the return on investment for Sam's account? 10.8% 12.1% 23.5% 21.5%

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 8CYU
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Sam invests $2,000 in an account with an interest rate of 6.7% compounded annually for 3 years.
What is the return on investment for Sam's account?
10.8%
12.1%
23.5%
21.5%
Transcribed Image Text:Sam invests $2,000 in an account with an interest rate of 6.7% compounded annually for 3 years. What is the return on investment for Sam's account? 10.8% 12.1% 23.5% 21.5%
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