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21 votes
21 votes
At what rate would $1,200 earn $96 in 8 years?

User Mario Varchmin
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1 Answer

25 votes
25 votes
Ur getting scammed lol but if you are looking at a constant term of a flat amount added each year, then the answer would be 96/8 and that would equal 12 so 12 dollars a year.


But if you are looking for yearly increase percentage wise then, first we would put out an equation, 1296 = 1200(x)^8= you would then put it into a calculator because the eighth root is omega hard to calculate, but the end answer is
1.009667
User Sneas
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3.0k points