Question
Dave has a savings account that pays interest compounded monthly. Dave makes no withdrawals or deposits for two whole years and the balance in his
Dave has a savings account that pays interest compounded monthly. Dave makes no withdrawals or deposits for two whole years and the balance in his savings account goes from $3250 to $3389.28. what is the annual interest rate for Dave's savings account (round to two decimal places).?
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Engineering Economic Analysis
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
9th Edition
978-0195168075, 9780195168075
