Register

Colton is going to invest $76,000 and leave it in an account for 15 years. Assuming the interest is compounded daily, what interest rate, to the nearest hundredth of a percent, …

Colton is going to invest $76,000 and leave it in an account for 15 years. Assuming the interest is compounded daily, what interest rate, to the nearest hundredth of a percent, …
asked 72.4k views
14 votes
Colton is going to invest $76,000 and leave it in an account for 15 years. Assuming the interest is compounded daily, what interest rate, to the nearest hundredth of a percent, would be required in order for Colton to end up with $155,000?

asked
User Mehdi Golzadeh
by
8.3k points

1 Answer

6 votes

Answer: 4.75%

Explanation:

answered
User Oleksandr IY
by
8.0k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
Link Copied!