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If $1000 is deposited in a certain bank account and remains [#permalink] ### Show Tags 07 Mar 2008, 11:47 1 This post was BOOKMARKED This topic is locked. If you want to discuss this question please re-post it in the respective forum. If$1000 is deposited in a certain bank account and remains in the account
along with any accumulated interest, the dollar amount of interest I earned by
the deposit in the first n years is given by the formula I= 1000[(1+r/100)^n -1]
where r is the annual rate of interest paid by the bank. Is the annual interest
rate paid by the bank is greater than 8 % ?