Suppose you deposit $2,679.00 into an account today. In 12.00 years the account is worth $3,670.00. The account earned ____% per year.
| Amount= | Deposit * (1+rate)^Time | |
| 3670= | 2679*(1+rate)^12 | |
| 3670/2679= | (1+rate)^12 | |
| 1.369914147 | =(1+rate)^12 | |
| 1.369914^(1/12) | =(1+rate) | |
| 1.026576004 | =(1+rate) | |
| Rate | 0.026576 | |
| Rate | 2.658% per year | |
Suppose you deposit $2,679.00 into an account today. In 12.00 years the account is worth $3,670.00....
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