math
posted by Anonymous .
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?

67359.39/67081.20 = 1.004147
so, that's .4147%/month = 4.9%/yr
assuming simple interest, or compound interest, compounded monthly
Respond to this Question
Similar Questions

Linear Programming Investment Strategy
How can I set this question up? Client has 800,000 that must be invested in 3 funds. 20 to 40% invested in growth fund, 20 to 50% in income fund and at least 30% in money market fund. Client has a max risk index of 0.05. Risk indicators 
MSIS Management Science Methods
How can I set this question up in Lindo? Client has 800,000 that must be invested in 3 funds. 20 to 40% invested in growth fund, 20 to 50% in income fund and at least 30% in money market fund. Client has a max risk index of 0.05. Risk 
accounting
Mr. and Mrs. Garcia have a total of $ 100,000 to be invested in stocks, bonds, and a money market account.The stocks have a rate of return of 12%/ year, while the bonds and the money market account pay 8% and 4%/ year, respectively. … 
math
A money market fund pays 14% annual interest compounded daily. What is the value of $10,000 invested in this fund after 15 years? 
algebra
Glenn invested some money is a certificate of deposit (CD) with an annual yield of 9%. He invested twice as much money in a mutual fund with an annualy yield of 12%. His interest from the two investments at the end of the year was … 
anonymous
1.) an account invested in a month market fund grew from $67,081.20 to $67,359.39 in a month. What was the interest rate, to the nearest tenth? 
math
a money market fund pays 14% annual interest compunded daily. What is the value of $10,000 invested in this fund after 15 yrs? 
finite math
Carlos invested $6,000 in a money market mutual fund that pays interest on a daily basis. The balance in his account at the end of 8 mo (245 days) was $6,230.23. Find the effective rate at which Carlos's account earned interest over … 
simple interest
A total of $12,000 is invested into two simple interest accounts. On one account the annual simple interest rate is 12%, while on the second account the annual interest rate is 18%. How much should be invested at 12% so that the interest … 
algebra
sam saved his money until he had $10000 to invest.he invested x dollars into certificate of deposit (cd) with an annual interest rate of 2% and the remaining y dollars into a mutual fund with annual interest of 1.5% total interest …