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Kayla currently has an account balance of $2,134.96. She opened the account 12 years ago with a deposit of $1,327.35. If the interest compounds twice a month, what is the intere…

Kayla currently has an account balance of $2,134.96. She opened the account 12 years ago with a deposit of $1,327.35. If the interest compounds twice a month, what is the intere…
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1 vote
Kayla currently has an account balance of $2,134.96. She opened the account 12 years ago with a deposit of $1,327.35. If the interest compounds twice a month, what is the interest rate on the account?

asked
User Bruce Lim
by
7.7k points

1 Answer

3 votes

Answer:

The interest calculated is 3.96%.

Explanation:

I hope this helps you :)

answered
User Jerome Escalante
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