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Evan is going to invest $2,800 and leave it in an account for 12 years. Assuming the interest is compounded annually, what interest rate, to the nearest hundredth of a percent, …

Evan is going to invest $2,800 and leave it in an account for 12 years. Assuming the interest is compounded annually, what interest rate, to the nearest hundredth of a percent, …
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5 votes
Evan is going to invest $2,800 and leave it in an account for 12 years. Assuming the

interest is compounded annually, what interest rate, to the nearest hundredth of a
percent, would be required in order for Evan to end up with $5,000?

asked
User Coding Mash
by
8.4k points

2 Answers

5 votes

Answer:

5000=2000/1 hshshsjsnndjskbdjs

answered
User Gekkie
by
7.9k points
2 votes

Answer:

r = 4.95046%

r ≈ 4.95%

answered
User Steve Wills
by
8.3k points
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