What annual interest rate has the account earned

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Question: Penny has $16,000 in her savings account today. Penny opened the account exactly 7 years ago with a $10,000 deposit. Penny has made no other deposits or withdrawals. What annual interest rate (compounded annually) has the account earned? Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%)

Reference no: EM133432472

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