Question

Sally invested $1,200 in an account where interest compounded quarterly. After two years, she had $1,351.79 in her account. What was her interest rate?

Answer 1

use the formula

`A=P(1+(r)/(t))^(n\cdot t)`

clear the formula for the rate

`A=P(1+(r)/(t))^(n\cdot t)`

.