SOLUTION: At what interest rate must $4300 be compounded annually to equal $7959.00 after 8 years? (round to the nearest percent).

SOLUTION: At what interest rate must $4300 be compounded annually to equal $7959.00 after 8 years? (round to the nearest percent).

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Question 882730: At what interest rate must $4300 be compounded annually to equal $7959.00 after 8 years? (round to the nearest percent).
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
In General
A = Accumulated Amount = 7959
P= principal = 4300
r= annual rate = .
n= periods per year = 1 (annually)
t= years = 8
7959/4300 =
rate is 8%
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