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Sarah is going to invest $8,600 and leave it in an account for 16 years. Assuming the interest is compounded annually, what interest rate, to the nearest tenth of a percent, wou…

Sarah is going to invest $8,600 and leave it in an account for 16 years. Assuming the interest is compounded annually, what interest rate, to the nearest tenth of a percent, wou…
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19 votes
Sarah is going to invest $8,600 and leave it in an account for 16 years. Assuming the

interest is compounded annually, what interest rate, to the nearest tenth of a percent,
would be required in order for Sarah to end up with $18,500?

asked
User Michael Nelles
by
7.3k points

1 Answer

5 votes

Answer:

4.9%

Explanation:

answered
User Aemkei
by
9.0k points
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