On January 1, 2005, a person's savings account was worth $200,000. Every month thereafter, this person makes

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On January 1, 2005, a person's savings account was worth $200,000. Every month thereafter, this person makes a cash contribution of $676 to the account. If the fund is expected to be worth $400,000 on January 1, 2010, what annual rate of interest is being earned on this fund?
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Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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