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A = $14,560; P = $13,000; t = 4 months; r =? ( I know the answer but how do I convert the time? 4/12??)

A = $14,560; P = $13,000; t = 4 months; r =? ( I know the answer but how do I convert the time? 4/12??)
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A = $14,560; P = $13,000; t = 4 months; r =? ( I know the answer but how do I convert the time? 4/12??)

User Sathish D
by
8.1k points

1 Answer

1 vote
14560=13000(1+r)^4/12
Now can you solve for r?
User Joshua Goldberg
by
8.3k points
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