Barbara R.

asked • 08/30/13

Micheal wants his $3,200 to grow to $4,500 in 3 years. He has a saving account paying simple interest on savings.

Micheal wants his $3,200 to grow to $4,500 in 3 years. He has a saving account paying simple interest on savings. What rate of interest would help him achieve his goal?I am confused as to what formula to use and would you use the banker's rule? 

4 Answers By Expert Tutors

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Russell R. answered • 08/30/13

Excel, PowerPoint, Access, Financial Analysis & Budgeting

Robert P. answered • 08/30/13

All things Math

Kirill Z. answered • 08/30/13

Physics, math tutor with great knowledge and teaching skills

Gene G. answered • 08/30/13

You can do it! I'll show you how.

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