Question:

Find the interest rate to the nearest hundredth of a percent

Last updated: 7/19/2022

Find the interest rate to the nearest hundredth of a percent

Find the interest rate to the nearest hundredth of a percent that will produce $2000, if $1500 is left at interest compounded quarterly for 4.5 yr. Use the formula A=P (1+r/n)tn The interest rate to the nearest hundredth of a percent is. (Do not round until the final answer. Then round to the nearest hundredth as needed.)