document.write( "Question 1198963: Frank invests $3500 dollars into an account earning interest compounded quarterly. After 10 years there is $5050 in the account. What was the interest rate? \n" ); document.write( "
Algebra.Com's Answer #832798 by josgarithmetic(39617)![]() ![]() ![]() You can put this solution on YOUR website! 10 years as quarterly periods means 40 compounding periods. \n" ); document.write( "r for yearly rate means \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "\n" ); document.write( ".\r \n" ); document.write( "\n" ); document.write( ". \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "or 3.68% \n" ); document.write( " |