xxhaydeeavila xxhaydeeavila

15-02-2017
Mathematics

Answered

What is the annual interest rate if $1600 is invested for 6 years and $456 in interest is earned?

Verified Answer :

scme1702 scme1702

22-02-2017

Interest = Investment x (interest rate)^time periods

456 = 1600(IR)⁶
IR = 0.811

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