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Two years ago, YZX deposited $1,640 in an account that has earned and will earn 12.70 percent per year in compound interest. If CAB deposits
Two years ago, YZX deposited $1,640 in an account that has earned and will earn 12.70 percent per year in compound interest. If CAB deposits $3,240 in an account today that earns simple interest, then how much simple interest per year must CAB earn to have the same amount of money in 6 years from today as YZX will have in 6 years from today? Answer as an annual rate. 13.52% (plus or minus .05 percentage points) 5.29% (plus or minus .05 percentage points) 8.85% (plus or minus .05 percentage points) 0.62% (plus or minus .05 percentage points) None of the above is within .05 percentage points of the correct
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