Five years ago, Precision Tool set aside $50,000 in case of a financial emergency. Today, that account has increased in value to $64,397. What rate of interest is the firm earning on this money?
A) 5.19%
B) 5.47%
C) 6.18%
D) 6.32%
E) 6.45%

Question

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The Answer of Five years ago, Precision Tool set aside $50,000 in case of a financial emergency. Today, that account has increased in value to $64,397. What rate of interest is the firm earning on this money?
A) 5.19%
B) 5.47%
C) 6.18%
D) 6.32%
E) 6.45%

Five Years Ago, Precision Tool Set Aside $50,000 in Case