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Two years ago, you invested $3,000.00. Today, it is worth $3,750.00. What rate of interest did you earn?

Two years ago, you invested $3,000.00. Today, it is worth $3,750.00. What rate of interest did you earn?
asked 43.1k views
3 votes
Two years ago, you invested $3,000.00. Today, it is worth $3,750.00. What rate of interest did you earn?

asked
User Rashid Wassan
by
7.4k points

1 Answer

7 votes

The annual interest rate is 11.803%.

Assumptions:

- Interest is compounded annually.

answered
User DisturbedNeo
by
8.0k points
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