Question

WILL MEDAL!!!
Keisha's parents want to save twenty-one thousand dollars in her college savings account over the next fifteen years. They have twelve thousand dollars to use as an initial deposit. What simple annual interest rate do they need to meet their goal? Round your answer to the nearest tenth.
A. 2.9%
B. 3.8%
C. 5%
D. 6%

Answer 1

@Luigi0210

Answer 2

@mathstudent55

Answer 3

I'm going to walk you through this problem in small steps, if that is okay with you?