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

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asked May 3, 2021 170k views

2 votes

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

Mathematics
middle-school

Nikita Koksharov asked

by Nikita Koksharov

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2 Answers

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Answer:

Explanation:

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

Nathan Getachew answered May 4, 2021

by Nathan Getachew

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6 votes

Answer:

I = Prt

Explanation:

Dherik answered May 7, 2021

by Dherik

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