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Solve the Problem $45,000\$ 45,000 Inheritance Is Invested for 15 Yr Compounded Quarterly and Grows

Question 20

Multiple Choice

Solve the problem.
-A $45,000\$ 45,000 inheritance is invested for 15 yr compounded quarterly and grows to $109,940\$ 109,940 . Find the interest rate. Round to the nearest percent


A) 5%5 \%
B) 4%4 \%
C) 6%6 \%
D) 3%3 \%

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