Dave has a savings account that pays interest compounded monthly. Dave makes no withdrawals or deposits for
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Dave has a savings account that pays interest compounded monthly. Dave makes no withdrawals or deposits for two whole years and the balance in his savings account goes from $3250 to $3389.28. what is the annual interest rate for Dave's savings account (round to two decimal places).?
Related Book For
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
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