Asked by dave
At what rate must $500 be compounded for it to grow to 1079.46 in 10 years?
8 percent? i think
8 percent? i think
Answers
Answered by
economyst
correct.
500*(1+r)^10 = 1079.46 -- solve for r.
500*(1+r)^10 = 1079.46 -- solve for r.
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