Question: Answer to Question 7 only (bottom question) You decide to save $300 per month for the next 4 years. You deposit your savings into an

Answer to Question 7 only (bottom question)

You decide to save $300 per month for the next 4 years. You deposit your savings into an account earning 5% compounded monthly. How much is your account worth at the end of the 4 years? (round to the nearest whole number) Question 7 1 pts It turns out your account balance from the previous problem ends up being $17.500. What rate did you actually earn? (Hint: think about whether the rate you solve for is monthly or annually. You want to enter the annual rate. Round to 2 decimal places and answer in percentage form)

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