Interest Rate Earned
An account grew from $14,000 to $15,000 during the last quarter. Monthly deposits of $250 were made at the end of each month. What was the rate of return during this period?
Use the following values for the prompts:
Prompt 
Value 

Calculation Type 
Accumulation 

Calculate 
Interest Rate 

Current Account Value 
$14,000 

Number of Years 
0.25 

Deposit Amount 
$250 

Type of Deposits 
Level Deposits 

Deposits per Year 
12 

Deposits Made at 
End of Period 

Projected Value 
$15,000 
The Calculated Interest Rate shows 7.0774%.
For 3 years your client has been making $250 monthly deposits. The account balance is now $10,500. What has been the client's average annual rate of return?
Use the following values for the prompts:
Prompt 
Value 

Calculation Type 
Accumulation 

Calculate 
Interest Rate 

Current Account Value 
$0 

Type of Deposits 
Level Deposits 

# of Deposits/Year 
12 

Amount of Each Deposit 
$250 

Deposits Made at 
End of Period 

Interest Rate 
Do not enter value 

# of Years 
3 

Projected Value 
$10,500 
The Calculated Interest Rate shows 10.2604%.