-ars? rate would be %. (If needed, round to 1 decimal place.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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![### Investment Rate Calculation
**Question:**
At what nominal rate, compounded annually, would $6,000.00 have to be invested to amount to $8,429.57 in 3 years?
**Solution:**
The rate would be [_______]%. (If needed, round to 1 decimal place.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F57a80892-6d38-4c33-b12d-e676cd98c4f8%2F359072d9-5e8e-48df-ae54-90e8219bad95%2Fxw7t5q_processed.png&w=3840&q=75)
Transcribed Image Text:### Investment Rate Calculation
**Question:**
At what nominal rate, compounded annually, would $6,000.00 have to be invested to amount to $8,429.57 in 3 years?
**Solution:**
The rate would be [_______]%. (If needed, round to 1 decimal place.)
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