Question 1
In a saving account in a bank, you deposited $27,000. The balance of the account after 10 years is $30,000. Assuming interest is compounded quarterly, what is the annual interest rate?
(ROUND THIS ANSWER TO 4 DECIMAL PLACES)
(When you input your answer to Moodle, ignore the % sign and round your answer to 4 decimal places, if necessary. For example, you should input 1.2345 if your answer is 1.2345412%)