Question
A deposit of $10,000 increased to $14,600 in 5 years. Determine the annual rate of interest used and calculate the balance at the end of
A deposit of $10,000 increased to $14,600 in 5 years. Determine the annual rate of interest used and calculate the balance at the end of year three.
A: $12,549.07
B: $10,645.84
C: $12,645.31
D: $11,954.41
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Personal Finance
Authors: E Thomas Garman, Raymond E Forgue
10th Edition
143903902X, 9781439039021
