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Emily plans to put her graduation money into an account and leave it there for 4 years while she goes to college. She receives $750 in graduation money that she puts into an account that earned $127.50 in interest. What was the interest rate that the bank provided

User Sagar M
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1 Answer

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Answer:

887.40

Explanation:

amount = principal(1i)^n

i = .0425/2 = .02125 , n = 8 , principal = 750

amount = 750(1.02125)^8 = 887.40

User Maniya Joe
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