Question

After 3 years, a $1,500 investment is worth $1,680. What is the interest rate on the investment?

0.04 percent
2.0 percent
4.0 percent
37.3 percent

Answer 1

The answer is 4.0 percent the because 37.3 is to large and will give us more than 1680 0.04 is to small and will move us backwards in money made and 2.0 won’t give us the proper amount of money leaving us with 4.0 as the answer

Answer 2

It is C. I think

Explanation:

A. will just make the investment smaller, not bigger, so not A. It is not B. because it does not give us the result we want. It's not D. because it is too high of an answer. I think it's C. I hope this helps, and I hope it's not wrong, but I do not think it is.