A bank account has an initial deposit of 16 000 After 7

Last updated: 11/26/2023

A bank account has an initial deposit of 16 000 After 7 years the bank account has 21 000 Assuming that compounding interest is done annually and that no withdrawals are taken find the annual interest rate on the investment Points 0 of 1 If interest is compounded annually what is the approximate interest rate on the investment Do not round until the final answer Then round to the nearest hundredth Saw