Problem: In many computer applications such as spreadsheets, a power is indicated by a caret symbol (^). For example, 34 would be written as 3^4. As a part of her budget management, Kim has put money into an Individual Retirement Account. She creates a spreadsheet to estimate her earnings over time. She enters the formula: =1500*(1+0.06/4)^ (4*A2) , where A2 = the time in years.
What annual rate of interest does she expect to earn over time? Enter your answer as a percentage.