Find the required annual interest rate to the nearest tenth of a percent for $1200 to grow to $1600 if interest is compounded quarterly for 6 yr. ---.. The required annual interest rate is %. (Round to the nearest tenth as needed.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
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Find the required annual interest rate to the nearest tenth of a percent for $1200 to grow to $1600 if interest is compounded quarterly for 6 yr.
---..
The required annual interest rate is %. (Round to the nearest tenth as needed.)
Transcribed Image Text:Find the required annual interest rate to the nearest tenth of a percent for $1200 to grow to $1600 if interest is compounded quarterly for 6 yr. ---.. The required annual interest rate is %. (Round to the nearest tenth as needed.)
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