Question: 2 . ( 2 0 points ) In the following question write down the formula using the numbers given in the problem for the aim

2 . (20

points

)

In the following question write down the formula using the numbers given in the problem for the aim of finding the solution, but do not calculate the result. A person makes monthly deposits of

\ (\

300 \)

into an account. After

10

years, if there is

\ (\

480, 000 \)

in the account, what annual rate compounded monthly has this account earned during the

10 -

year period?

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