JeffH47 JeffH47

23-02-2017
Mathematics

Answered

Find the annual interest rate. Round your answer to the nearest hundredth of a percent.

I = $160.67, P = $2000, t = 8 months

The annual interest rate is %

Find the annual interest rate. Round your answer to the nearest hundredth of a percent. I = 160.67, P = 2000, t = 8 months The annual interest rate is class=

Verified Answer :

23-02-2017

160.67 = 20008r
So 160.67 = 16000r
Then divide 16000 on both sides 160.67/16000 =r/16000
0.01=r

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