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What is the annual interest rate if $1600 is invested for 6 years and $456 in interest is earned?

What is the annual interest rate if $1600 is invested for 6 years and $456 in interest is earned?
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What is the annual interest rate if $1600 is invested for 6 years and $456 in interest is earned?

User MFAL
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2 Answers

5 votes

ur answer is 4.75 hope this helped u

User Mahesh Babariya
by
9.1k points
2 votes
R=i/pt
R=456÷(1,600×6)
R=0.0475*100==4.75%
User Microwth
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8.5k points
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