Post a New Question


posted by .

An account invested in a money market fund grew from $67,081.2 to $67,359.39 in a month. What was the annual interest rate?

  • math -

    67359.39/67081.20 = 1.004147

    so, that's .4147%/month = 4.9%/yr

    assuming simple interest, or compound interest, compounded monthly

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions

Post a New Question