22-12-2022
Mathematics

Answered

5. Sima invests some money in an account that earns a fixed rate of interest
compounded annually. The amounts of the investment at the end of the first
three years are shown below
a) Determine the annual rate of compound interest earned.
b) How much did Sima invest?
Year. Total amount
1. $4240.00
2. $4494.40
3 $4764.06

Answer :

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