43: 01
claire deposited $2,500 into an account that accrues interest monthly. she made no additional deposits or withdrawals. after
2 years, claire had $2,762.35 in the account. what is the annual interest rate of the account?
compound interest formula: v(t)= p 1+
t = years since initial deposit
n = number of times compounded per year
r = annual interest rate (as a decimal)
p= initial (principal) investment
v(t) = value of investment after t years
o 5%
o 11%
26%
31%
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