Penn Station Is Saving Money to Build a New Loading

Multiple Choice

Penn Station is saving money to build a new loading platform.Two years ago,they set aside $24,000 for this purpose.Today,that account is worth $28,399.What rate of interest is Penn Station earning on this investment?

A) 6.39 percent
B) 7.47 percent
C) 8.78 percent
D) 9.23 percent
E) 9.67 percent