Diana invested $61,293 in an account with a fixed annual percent of interest, compounding quarterly. At the end of five full years, she had $76,662.25 in principal plus interest. Approximately what was the annual percent rate of interest for this account?  Select the correct option:
A) 1.2%
B) 4.5%
C) 10%
D) 18%
E) 25.2%
61,293 (1+(r/4))^20 = 76,662.25   Interest Accrued within Given Time Period: 76,662.25 - 61,293 = (estimated) 15,000   So, Per Year: 15,000/5 = 3000   Next, in order to find the rate:   (estimated) 60,000 * Rate = 3,000   3,000 / 60000 = 5% .... Since 60000 is lower than the actual figure of 61293, the actual rate will be a little less than 5%.   The only answer close to that is Choice 4.5%.
<result>B</result>
Diana invested $61,293 in an account with a fixed annual percent of interest, compounding quarterly. At the end of five full years, she had $76,662.25 in principal plus interest. Approximately what was the annual percent rate of interest for this account?