What is the interest rate ?

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asked Aug 22, 2018 127k views

1 Answer

Zelinka · Answer 1 · 2018-08-27T09:03:06+0000

Let's solve it together.
r=(1/t)(A/P-1)
r=(1/5)((5994.79/4100)-1)=0.09242878
r=0.09242878
No0w0 convert to a percentage.
r=0.09242878×100
=9.2429%
Hope This Helps and God Bless!

What is the interest rate ?

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