Mike Smith deposited $21,600 in the bank on January 1, 2002. On January 2, 2012, this deposit
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Mike Smith deposited $21,600 in the bank on January 1, 2002. On January 2, 2012, this deposit has accumulated to $42,486. Interest is compounded annually on the account. What rate of interest did Mike earn on the deposit? Round to the nearest whole percent.
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1111534912
8th edition
Authors: Gary A. Porter, Curtis L. Norton
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