You have just deposited $5000.00 into an account that promises to pay you an annual interest rate

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You have just deposited $5000.00 into an account that promises to pay you an annual interest rate of 5.3 percent each year for the next 4 years. You will leave the money invested in the account for 10 years from today, you need to have $7,990.00 in the account. What annual interest rate must you earn over the last 6 years to accomplish this goal?

Posted Date: May 19, 2024 07:02 PM

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You have just deposited $5000.00 into an account that promises to pay you an annual interest rate

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