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Find the Interest Rate (With Annual Compounding) That Makes the Statement

Question 63

Multiple Choice

Find the interest rate (with annual compounding) that makes the statement true. Round to the nearest tenth whennecessary.
- $782\$ 782 grows to $1071.53\$ 1071.53 in 10 years


A) 4.75%4.75 \%
B) 3.2%3.2 \%
C) 4.95%4.95 \%
D) 3.5%3.5 \%

Correct Answer:

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