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Find the interest rate for a $4100 deposit accumulating to $5994.78, compounded monthly for 6 years.

Find the interest rate for a $4100 deposit accumulating to $5994.78, compounded monthly for 6 years.
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2 votes
Find the interest rate for a $4100 deposit accumulating to $5994.78, compounded monthly for 6 years.

User Ehsan Shirzadi
by
8.2k points

1 Answer

6 votes

Answer:

r = [1 + (i/n)]n - 1. Where: r =

Explanation:

User Shasan
by
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