Find the interest rate needed for an investment of $3,000 to grow to an amount of $7,500 in 3 year(s) if interest is compounded monthly. Round your answer to two decimal places.
A) 31.13%
B) 31.74%
C) 30.94%
D) 30.56%

Question

Quizplus · Accepted Answer

The Answer of Find the interest rate needed for an investment of $3,000 to grow to an amount of $7,500 in 3 year(s) if interest is compounded monthly. Round your answer to two decimal places.
A) 31.13%
B) 31.74%
C) 30.94%
D) 30.56%

Find the Interest Rate Needed for an Investment of $3,000