Homework answers / question archive / An Account invested in a money market fund grew from $73,245

An Account invested in a money market fund grew from $73,245

Economics

Share With

An Account invested in a money market fund grew from $73,245.26 to $73,543.17 in a month. What was the interest rate to the nearest tenth?

Karl Yates needs $6,000 to pay for the remodeling work on his house. A contractor agrees to do the work in 3 months. What is the present value of $6,000 at 7.2% simple interest in order to accumulate the $6,000 in 3 months?