Mathematics, 12.02.2021 08:50 darg3990rgp2t0r2

Sophia is going to invest $7,900 and leave it in an account for 6 years. Assuming the interest is compounded monthly, what interest rate, to the nearest hundredth of a percent, would be required in order for Sophia to end up with $9,400?

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Sophia is going to invest $7,900 and leave it in an account for 6 years. Assuming the interest is co...

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Sophia is going to invest $7,900 and leave it in an account for 6 years. Assuming the interest is compounded monthly, what interest rate, to the nearest hundredth of a percent, would be required in order for Sophia to end up with $9,400? ​

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Sophia is going to invest $7,900 and leave it in an account for 6 years. Assuming the interest is compounded monthly, what interest rate, to the nearest hundredth of a percent, would be required in order for Sophia to end up with $9,400?