You deposited $3,700 into a bank account 4 years ago. Today, there's $8,800 in it. At what annual rate must the money have been growing? Put your answer in percent, but do NOT use the % sign, and round

 

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You deposited $3,700 into a bank account 4 years ago. Today, there's $8,800 in it. At what annual rate must the money have been growing? Put your answer in percent, but do NOT use the "%" sign, and round your answer to TWO decimal places. For example, if you got 12.34% then simply type 12.34

• Expert Answer

To solve this problem we can use the formula for compound interest A P 1 r n nt where A is the final View the full answer