Question 1146561
9683 = 9000 * (1 + r/4)^7
<pr>
9683/9000 = (1 + r/4)^7
<pr>
1.07589 = (1 + r/4)^7
<pr>
(1.07589)^(1/7) = 1 + r/4
<pr>
1.01050 = 1 + r/4
<pr>
0.01050 = r/4
<pr>
4(0.01050) = r
<pr>
r = 0.0420
<pr>
The annual interest rate was 4.20%.