SOLUTION: Suppose you have $5300 deposited in an account with interest compounded weekly. After 5 years, the account has grown to $7100. What is the interest rate on this account? (Round you

Algebra ->  Finance -> SOLUTION: Suppose you have $5300 deposited in an account with interest compounded weekly. After 5 years, the account has grown to $7100. What is the interest rate on this account? (Round you      Log On


   

Question 1183162: Suppose you have $5300 deposited in an account with interest compounded weekly. After 5 years, the account has grown to $7100. What is the interest rate on this account? (Round your answer to the nearest hundredth of a percent)
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
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The TWIN problem was solved 20 minutes ago under this link

https://www.algebra.com/algebra/homework/Finance/Finance.faq.question.1183163.html

https://www.algebra.com/algebra/homework/Finance/Finance.faq.question.1183163.html


Use it as your TEMPLATE and solve the current problem by the same method.


Consider it as a useful exercise to check if you do understand and master the method in full.


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