What annual interest rate would the account need to pay


A college student invests $8000 in an account that pays interest annually. If the student would like this investment to be worth $1,000,000 in 45 years, what annual interest rate would the account need to pay?

Solution Preview :

Prepared by a verified Expert
Mathematics: What annual interest rate would the account need to pay
Reference No:- TGS0699517

Now Priced at $5 (50% Discount)

Recommended (95%)

Rated (4.7/5)