jihanlee246 jihanlee246
  • 14-12-2021
  • Mathematics
contestada

You put $400 in an account account balance nine months later is now $418 what is the annual interest rate

Respuesta :

EnergyStudies
EnergyStudies EnergyStudies
  • 14-12-2021

Answer:

6% a year

Step-by-step explanation:

r=(1/t)(A/p-1)

r= 1/9((418/400)-1) = 0.005

0.005*100 (for percentage) = 0.5%

rate monthly is 0.5%

0.5*12= 6

yearly is 6%

Answer Link

Otras preguntas

A rescue plane spots a survivor 132 m directly below and releases an emergency kit with a parachute. If the package descends at a constant vertical acceleration
What does the point (1994, 400) on the graph represent?
Which of the following indicates that Triangle ABC and Triangle DEF are similar?
Explain how form Impacts meaning in the poem "Caged Bird" by Maya Angelou.
What is humor? | || || |_
The durations (minutes) of 26 electric power outages in Shah Alam over the past five years are shown below. 32 44 25 66 27 12 62 9 51 4 17 50 35 99 30 21 12 53
¿Cierto o falso? Indicate whether each statement is cierto (true) or falso (false). Remember that más means plus, menos means minus, and son means equols. 1. Se
a. 12.4 b. 12.9 c. 8.5 d. 8.1
????????????????????????1
How did Emperor Theodosius become a convert and stopped persecution