Question

3. Find the rate of interest when compounded annually​

Answer 1

Answer:

compound interest formulas and calculations:

1.calculate Accured Amount (principal + interest) A = p ( 1 + r/n)nt

2.calculate principle Amount, solve for p.p = A / (1 + r/n)nt

3.calculate rate of interest in decimal,solve for r.r = n[(A/P)1/nt-1]

4.calculate rate of interest in percent. R = r*100.

5.calculate time,solve for t.

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