Question
Exactly ten years ago you deposited $1,000 in a fixed interest rate savings account with annual compounding. Today the balance of your account is $1,572.
Exactly ten years ago you deposited $1,000 in a fixed interest rate savings account with annual compounding. Today the balance of your account is $1,572. Please, find the interest rate. Express your answer as a percentage with 3 digits after the decimal point, but do not include the % sign.
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
7th edition
978-0133856507, 013385650X, 133856437, 978-0133856439
