Question

If you deposit $2000 in a savings account with an interest rate of r compounded annually, then the balance in the account after 3 years is given by the function B(c) = 2000(1 + r)3, where r is written as a decimal.





What interest rate will yield a balance of $2300 after 3 years?




a.

4.55%


c.

4.67%


b.

3.25%

d.

4.77%

Answer 1

ANS. is d...4.77%

Answer 2

thanks!

Answer 3

welcome