Find the interest rate needed for an investment of $3,000 to grow to an amount of $8,500 in 3 year(s) if interest is compounded monthly. Round your answer to the nearest hundredth.

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Question

Find the interest rate needed for an investment of $3,000 to grow to an amount of $8,500 in 3 year(s) if interest is compounded monthly. Round your answer to the nearest hundredth.
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Quizplus · Accepted Answer

The Answer of Find the interest rate needed for an investment of $3,000 to grow to an amount of $8,500 in 3 year(s) if interest is compounded monthly. Round your answer to the nearest hundredth.
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Find the Interest Rate Needed for an Investment of $3,000