Question

Please answer!!!! will mark brainliest!!!

Answer 1

Answer:

6.42 %

Step-by-step explanation:

Formula    FV = PV ( 1 + i)^n        i = periodic interest in decimal

                                                 FV = future value    PV = present value

                                                    n = periods ( years in this case)

3412.23 = 2500 ( 1 + i)^5

3412.23/2500  = (1+i)^5

1.364892 = (1+i)^5

1.0641 = 1+ i

i = .0642      or    6.42 %