Ask Question
18 March, 17:12

An account earning interest compounded annually was worth $44,100

after 2 years and $48,620.25 after 4 years. What is the interest rate?

+2
Answers (1)
  1. 18 March, 17:17
    0
    R = (48,620.25:44,100) ^ (1:2) - 1

    R=0.05*100=5%

    The initial deposit is 40000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “An account earning interest compounded annually was worth $44,100 after 2 years and $48,620.25 after 4 years. What is the interest rate? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers