Question

At what annual interest rate must $2,000 be invested to grow to $3,000 in 5 years? $ a. \quad r = \left(\frac{$3,000}{$2,000}\right)^{\frac{1}{5}} - 1 = 8.45 $ $ b. \quad r = \left(\frac{$3,000}{$2,000}\right)^{\frac{1}{5}} = 1.0845 $ $ c. \quad r = \left(\frac{$3,000}{$2,000}\right)^{5} - 1 = 8.45 $ $ d. \quad r = \left(\frac{$3,000}{$2,000}\right)^{5} - 1 = 6.59 $

          At what annual interest rate must $2,000 be invested to grow to $3,000 in 5 years?
\( a. \quad r = \left(\frac{$3,000}{$2,000}\right)^{\frac{1}{5}} - 1 = 8.45 \)
\( b. \quad r = \left(\frac{$3,000}{$2,000}\right)^{\frac{1}{5}} = 1.0845 \)
\( c. \quad r = \left(\frac{$3,000}{$2,000}\right)^{5} - 1 = 8.45 \)
\( d. \quad r = \left(\frac{$3,000}{$2,000}\right)^{5} - 1 = 6.59 \)

$At what annual interest rate must $2,000 be invested to grow to $3,000 in 5 years? $ a. \quad r = \left(\frac{$3,000}{$2,000}\right)^{\frac{1}{5}} - 1 = 8.45 $ $ b. \quad r = \left(\frac{$3,000}{$2,000}\right)^{\frac{1}{5}} = 1.0845 $ $ c. \quad r = \left(\frac{$3,000}{$2,000}\right)^{5} - 1 = 8.45 $ $ d. \quad r = \left(\frac{$3,000}{$2,000}\right)^{5} - 1 = 6.59 $$

Added by Tiffany H.

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