SOLUTION: What annual rate of interest would you have to earn on an investment of $3000 to ensure receiving $201.00 interest after 1 year?

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Question 834641: What annual rate of interest would you have to earn on an investment of $3000 to ensure receiving $201.00 interest after 1 year?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
3000%281%2Bi%29%5E1=3201
1%2Bi=1.067
i=.067
An interest rate of 6.7%.