Posted by **Anonymous** on Friday, March 30, 2012 at 11:01am.

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 -
**Steve**, Friday, March 30, 2012 at 12:14pm
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

## Related Questions

- anonymous - 1.) an account invested in a month market fund grew from $67,081.20 ...
- math - a money market fund pays 14% annual interest compunded daily. What is the...
- math - A money market fund pays 14% annual interest compounded daily. What is ...
- MSIS Management Science Methods - How can I set this question up in Lindo? ...
- accounting - Mr. and Mrs. Garcia have a total of $ 100,000 to be invested in ...
- finite math - Carlos invested $6,000 in a money market mutual fund that pays ...
- Linear Programming Investment Strategy - How can I set this question up? Client ...
- algebra - Glenn invested some money is a certificate of deposit (CD) with an ...
- math - how much money would have to be invested in an account at 3.98% annual ...
- Algebra - I invested $42,000 in three funds paying 5%, 7%, and 9% simple ...

More Related Questions