xxhaydeeavila xxhaydeeavila
  • 15-02-2017
  • Mathematics
contestada

What is the annual interest rate if $1600 is invested for 6 years and $456 in interest is earned?

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scme1702
scme1702 scme1702
  • 22-02-2017
Interest = Investment x (interest rate)^time periods

456 = 1600(IR)⁶
IR = 0.811
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