Question

I NEED HELP FINDING THE ANNUAL INTEREST RATE!!

Answer 1

`~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+(r)/(n)\right)^(nt) \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$975\\ r=rate\to \text{\LARGE 5.7\%}\to (5.7)/(100)\dotfill &0.057\\ n= \begin{array}{llll} \textit{times it compounds per year} \end{array}\dotfill &1\\ t=years \end{cases} \\\\\\ A = 975\left(1+(0.057)/(1)\right)^(1\cdot t) \implies A = 975(1.057)^t`