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Three years ago, you invested $3

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Three years ago, you invested $3.200.00. Today, it is worth $3.950.00 What rate of interest did you earn? 0.61 percent 427 percent 3,64 percent 5.27 percent 7.27 percent Check my work os EDHE211 hop

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The correct answer is 7.27 Pc ie.e

The formula for the same is,

3950= 3200( 1+x)^3

since x= rate of interest, 3 is the t here.

By solving this equation, we get x= 7.27%

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