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What is the interest rate ?
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1 vote
What is the interest rate ?

What is the interest rate ?-example-1
User JYeh
by
5.8k points

1 Answer

6 votes
Let's solve it together.
r=(1/t)(A/P-1)
r=(1/5)((5994.79/4100)-1)=0.09242878
r=0.09242878
No0w0 convert to a percentage.
r=0.09242878×100
=9.2429%
Hope This Helps and God Bless!
User Zelinka
by
6.0k points
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