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

4. Which of the following is an example of an art movement? O Romantic art O Neoclassicism O Impressionism O Cubism
Why are you interested in that role of being a bailiff? How are you uniquely qualified for it? *
is soda homogeneous or heterogeneous? ​
PLZZ HELP!!!!Do you think animals could ever strategically attack humans? What circumstances would have to occur for this to happen?​
What are 3 management concerns of insects?
A citizen’s strong loyalty to his city-state enabled Greeks to unify. true or false
Lisa's school requires each student to earn 75 hours of community service each year. Lisa has already earned 27 hours. She plans to earn the remainder of her ho
Please help me please
PLEASEEEEEEE HELP ME Read the dictionary definition of the word abominable. abominable \ ə-ˈbäm-nə-bəl \ adjective: extremely unpleasant, disgusting, or revolti
What does this mean Hōc in templō sedēbat fēmina quaedam, nōmine Pȳthia et cōnsilium dabat eīs quī ad ōrāculum veniēbant. It is in latin.