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Anthony is going to invest $7,200 and leave it in an account for 16 years. Assuming the interest is compounded monthly, what interest rate, to the nearest tenth of a percent, wo…

Anthony is going to invest $7,200 and leave it in an account for 16 years. Assuming the interest is compounded monthly, what interest rate, to the nearest tenth of a percent, wo…
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5 votes
Anthony is going to invest $7,200 and leave it in an account for 16 years. Assuming

the interest is compounded monthly, what interest rate, to the nearest tenth of a
percent, would be required in order for Anthony to end up with $15,200?

asked
User Akshaynagpal
by
8.1k points

1 Answer

10 votes

Answer:

4.67916 so about 4.7%

Explanation:

answered
User Michael Hunger
by
8.1k points
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