finding the interest

Question

An account invested in a money market fund grew from ​$73334.96 to ​$73632.90 in a month. What was the interest rate to the nearest​ tenth?

Answer 1

73632.90=73334.96e^r/12 if interest is compounded continuously

ln(73632.90/73334.96)=r/12

r=about 0.049 = 4.9%

or if compounded monthly

73632.90 = 73334.96(1+r/12)^(12(1/12)

73632.90/73334.96 = 1+r/12

r = .049= 4.9%