Suppose $30,000 is invested into an account where interest is compounded monthly. After 30 years the balance is $84,204. What was the interest rate as a percent? Round the answer to the nearest hundredth of a percent. Interest Rate = %
Suppose $30,000 is invested into an account where interest is compounded monthly. After 30 years the balance is $84,204. What was the interest rate as a percent? Round the answer to the nearest hundredth of a percent. Interest Rate = %
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 26E
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![Suppose $30,000 is invested into an account where interest is
compounded monthly. After 30 years the balance is $84,204.
What was the interest rate as a percent?
Round the answer to the nearest hundredth of a percent.
Interest Rate =
olo
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffd31fdfb-4046-4b08-9c18-d73722d2496d%2Ff1df0d23-d403-44d0-b1b1-63baf29ceaa1%2F4j0ouec_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose $30,000 is invested into an account where interest is
compounded monthly. After 30 years the balance is $84,204.
What was the interest rate as a percent?
Round the answer to the nearest hundredth of a percent.
Interest Rate =
olo
%
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