What interest rate, compounded quarterly would cause 7000 to grow to 8800 over 2 years? Give your final answer as a percentage, rounded to two decimal places.
What interest rate, compounded quarterly would cause 7000 to grow to 8800 over 2 years? Give your final answer as a percentage, rounded to two decimal places.
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 29PS: What rate of interest to the nearest hundredth of percent is needed so that an investment of 2500...
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What interest rate, compounded quarterly would cause 7000 to grow to 8800 over 2 years? Give your final answer as a percentage, rounded to two decimal places.
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