You invest $5000 for 5 years, with interest compounded annually. After those 5 years you withdraw $1000, and leave the remainder invested for another 5 years. After the entire 10 years you have $8000. What was the interest rate on your investment?

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
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Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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6. You invest $5000 for 5 years, with interest compounded annually. After those 5 years you withdraw $1000, and leave the remainder invested for another 5 years. After the entire 10 years you have $8000. What was the interest rate on your investment?
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