Solve the problem.
-James purchased a bond for $\$ 3900$, and sixteen months later he sold it for $\$ 4300$. What annual rate would he have to earn in a savings account compounded monthly, to earn the same money on his investment?
A) $6.14 \%$
B) $8.14 \%$
C) $8.89 \%$
D) $9.64 \%$

Question

Quizplus · Accepted Answer

The Answer of Solve the problem.
-James purchased a bond for $\$ 3900$, and sixteen months later he sold it for $\$ 4300$. What annual rate would he have to earn in a savings account compounded monthly, to earn the same money on his investment?
A) $6.14 \%$
B) $8.14 \%$
C) $8.89 \%$
D) $9.64 \%$

Solve the Problem $3900\$ 3900$3900 , and Sixteen Months Later He Sold It For

Solve the Problem $\$ 3900$ , and Sixteen Months Later He Sold It For