A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $1441.26 in the given time, what was the interest rate?

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- March 23rd 2009, 04:03 PMtmac11522Compound Interest
A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $1441.26 in the given time, what was the interest rate?

- March 23rd 2009, 04:25 PMskeeter