Solved

In Early 2013, $2000 Was Invested at a Certain Interest

Question 26

Essay

In early 2013, $2000 was invested at a certain interest rate compounded annually.One year later, $1200 was deposited in another account at the same interest rate, also compounded annually.At the end of that year, there was a total of $3573.80 in both accounts.What is the annual interest rate?

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents