If You Deposi $\$ 100$ Nto an Account That Pays an Interest Rate That Compounds

question 15

Short Answer

If you deposi $\$ 100$ nto an account that pays an interest rate that compounds quarterly, what is the interest rate if the value in the account after 30 years is $ $\$ 444$ ? $\underline{\quad\quad}$ $\%$

---

Definitions:

Horizontal Price Fixing

An illegal practice where competitors agree to set their prices at a certain level, rather than competing fairly.

Shipping Fees

Charges applied for transporting goods from one location to another.

Hart-Scott-Rodino Act

U.S. legislation that requires large companies to file a report with the Federal Trade Commission and the Department of Justice before completing certain mergers, acquisitions, or transfers of securities.

Waiting Period

A mandated time interval between when an action is taken and when some related action may occur or when its effect comes into play.