Lily is going to invest $750 and leave it in an account for 18 years. Assuming the interest is compounded daily, what interest rate, to the nearest tenth of a percent, would be required in order for Lily to end up with $1,180?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Round to nearest tenth of a percent
Lily is going to invest $750 and leave it
in an account for 18 years. Assuming the
interest is compounded daily, what
interest rate, to the nearest tenth of a
percent, would be required in order for
Lily to end up with $1,180?
Transcribed Image Text:Lily is going to invest $750 and leave it in an account for 18 years. Assuming the interest is compounded daily, what interest rate, to the nearest tenth of a percent, would be required in order for Lily to end up with $1,180?
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