Compound Interest and the TVM Calculator

Use the TVM Calculator to solve the following compound interest problem. Round your result to two

decimal places as needed.

You invest $$15,000$ in an account. The interest is compounded monthly for $9$ years. The account

balance will be $$41,276\mathrm{.}43$ at the end of $9$ years. What is the annual interest rate?

Enter the values you need to put in the TVM calculator. Put the letter $x$ for the unknown value.

Remember that money paid to the bank is negative and money received from the bank is positive.

Use the link to the TVM Calculator below to solve the problem.

The annual interest rate is

TVM Calculator