Your Accountant Tells You That If You Can Continue to Earn

question 47

Multiple Choice

Your accountant tells you that if you can continue to earn the current interest rate on your balance of $800 for the next two years you will have $898.88 in your account. If your accountant is correct what is the current interest rate?

• A)6 percent
• B)7 percent
• C)8 percent
• D)9 percent