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Keagan invested $800, compounded annually for 20 years. What was the interest rate if the value of the investment was $2400 after the 20 years?

Keagan invested $800, compounded annually for 20 years. What was the interest rate if the value of the investment was $2400 after the 20 years?
asked 35.5k views
1 vote
keagan invested $800, compounded annually for 20 years. What was the interest rate if the value of the investment was $2400 after the 20 years?

asked
User Tyrice
by
8.6k points

1 Answer

3 votes

Answer: 1.5

Explanation: Searched enough until all sources said 1.5

Hope this helps!

answered
User LenW
by
8.3k points
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