Question

Kayden is going to invest $2,100 and leave it in an account for 13 years. Assuming the

interest is compounded monthly, what interest rate, to the nearest tenth of a percent,
would be required in order for Kayden to end up with $5,200?

Answer 1

0.58

Explanation:

pv=-2100

fv=5200

n=13*12

Answer 2

Answer: 7.0%

Explanation:

6.99504% = r