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Sean currently has an account balance of $3,981.04. He opened the account five years ago with a deposit of $3,760.19. If the interest compounds daily, what is the interest rate on the account?

Mathematics
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0.6%?
if the interest rate is r% per year then after five years you should have \[ \large 3981.04=3760.19(1+r/100)^5 \]
solve for r

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Other answers:

100.1?
no
solving for \(r\): \[ \large 100\cdot\left(\sqrt[5]{\frac{3981.04}{3760.19}}-1\right)=r \]
\[100*(5\sqrt1.05 -1)=r\] 100*(5.12-1)=r 100*4.14=r 414=r??!
no
use a calculator. the fraction inside the root is not 1.05
idk. i give up
r=1.1480
thanks so much. im not usually this thick...must study more XD

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