An account invested in a money market fund grew from $73,377.34 to $73,677,48 in a month what was the interest rate to the nearest tenth? what was the interest rate?

The rate is 4.9%.

Step-by-step explanation:

The compound interest formula is :

A = 73677.48

p = 73377.34

r = ?

n = 12

t = 1/12

Putting the values in formula we get;

=>

=>

=>

=>

=>

r = 0.04908

or r = 4.9%

Therefore, the interest rate is 4.9%.

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