Ben invested $20,000 into a money market account and took out $5,000 at the end of year 5. he found out at the end of 10 years that he had as of $50,000 in the account. what is the annual interest rate ben had earned on this investment

r = 11.5%

Explanation:

Given data:

invested amount $20,000

withrawl amount after 5 year is $5000

Amount at the end of 10th yr is $50,000

present value  is given as

where

A - amount after given n year

 Let

squaring on both side

solving for t we get

t = 1.711

so,

answerjointly by the fed and by the behavior of individuals who hold money and of banks in which money is held;