mary invests 7634 in a retirementaccount with a fixed annual interest ratecompounded 6 times per

Name: mary invests 7634 in a retirementaccount with a fixed annual interest ratecompounded 6 times per year after 13years the balance reaches 2438392what is the interest rate of the account 87188
Uploaded: 2023-06-01T22:29:46-08:00
Duration: 1 min 31 s
Channel: Numerade
Description: mary invests 7634 in a retirementaccount with a fixed annual interest ratecompounded 6 times per year after 13years the balance reaches 2438392what is the interest rate of the account 87188

Question

Benjamin Densmore · Answer

Okay, in this problem we have Celine who invested $3 ,000 to purchase a new car and after five y

Benjamin Densmore · Answer

Okay, in this problem we have Celine who invested $3 ,000 to purchase a new car and after five y

Sri K · Answer

In the given problem the investment done by Jill is $7 ,972 so Jill&#x27;s investment is $7 ,972 doll

Victor Salazar · Answer

For this exercise, we have 1 ,200 invested for 6 years with a simple interest of 396. So that&#x27;s

Gregory Higby · Answer

The way I&#x27;m reading this problem is it&#x27;s just a compound interest formula. So I hope you&#x27;ve seen

Question

Mary invests $7,634 in a retirement account with a fixed annual interest rate compounded 6 times per year. After 13 years, the balance reaches $24,383.92. What is the interest rate of the account?

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