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What equation can Miguel set up to solve for the annual interest rate

What equation can Miguel set up to solve for the annual interest rate
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2 votes
What equation can Miguel set up to solve for the annual interest rate

User Nikita Koksharov
by
8.3k points

2 Answers

0 votes

Answer:

Explanation:

annual interest rate = (1 + (nominal rate / number of compounding periods)) ^ (number of compounding periods) - 1

User Nathan Getachew
by
7.5k points
6 votes

Answer:

I = Prt

Explanation:

User Dherik
by
9.3k points
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