At the end of the three years, Daniela invested $40000 for a further six years in a second account that pays a nominal interest rate of $r$% per annum compounded quarterly. Find the value of $r$ if this investment grows to $53000 after six years.
At the end of the three years, Daniela invested $40000 for a further six years in a second account that pays a nominal interest rate of $r$% per annum compounded quarterly. Find the value of $r$ if this investment grows to $53000 after six years.