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MATH / A worker receives an annual wage of 20,000, which he always deposits into a savings account at the end of the year. By the end of the third year (when he makes the third deposit), …

Problem

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problem

A worker receives an annual wage of $20,000\$20{,}000, which he always deposits into a savings account at the end of the year. By the end of the third year (when he makes the third deposit), he wants to have at least $66,200\$66,200 in the account to finance the purchase of a house. What is the minimal compound interest rate that the savings account must provide? Express your answer as a percentage, but do not include the percent sign.
Plain-text mathematical notation (without MathML)
A worker receives an annual wage of $20,000, which he always deposits into a savings account at the end of the year. By the end of the third year (when he makes the third deposit), he wants to have at least $66,200 in the account to finance the purchase of a house. What is the minimal compound interest rate that the savings account must provide? Express your answer as a percentage, but do not include the percent sign.
Original LaTeX notation
A worker receives an annual wage of $\$20{,}000$, which he always deposits into a savings account at the end of the year. By the end of the third year (when he makes the third deposit), he wants to have at least $\$66,200$ in the account to finance the purchase of a house. What is the minimal compound interest rate that the savings account must provide? Express your answer as a percentage, but do not include the percent sign.

level

Level 5

type

Algebra

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Source and history

task_id
29c9ebe7-0356-5c1b-884b-26661a00c3f3
task_key
algebra--test--29c9ebe7-0356-5c1b-884b-26661a00c3f3
task_revision_id
1
config / split
algebra / test

Official source

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