If you deposit $2000 in a savings account with an interest rate of r compounded annually, then the balance in the account after 3 years is given by the function B(c) = 2000(1 + r)3, where r is written as a decimal.What interest rate will yield a balance of $2300 after 3 years?

Question

Revolt · Accepted Answer

4.77%

Unit Test — Unit test

If you deposit $2000 in a savings account with an interest rate of r compounded annually, then the balance in the account after 3 years is given by the function B(c) = 2000(1 + r)3, where r is written as a decimal.What interest rate will yield a balance of $2300 after 3 years?

Explanation

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