What is the effective annual yield if a deposit of $1000 grows to $3300 in 12 years?

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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What is the effective annual yield if a deposit of $1000 grows to $3300
in 12 years?
Transcribed Image Text:What is the effective annual yield if a deposit of $1000 grows to $3300 in 12 years?
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