use the equation you just found to determine the annual interest rate on an account that earned

Question

Nick Johnson · Answer

okay so here we can use the formula for the effective interest rate is going to be equal to one

Audrey Fong · Answer

In this question, we&#x27;ll be using the compound interest formula. A equals to P times 1 plus R ove

Victor Salazar · Answer

For this exercise, we have 1 ,200 invested for 6 years with a simple interest of 396. So that&#x27;s

Victor Salazar · Answer

For this exercise, we want to calculate our compound interest. So this is going to be a thousand

Adi S · Answer

Let&#x27;s start the question. In this question, given effective monthly rate, r is equal to 1 plus 0

Use the equation you just found to determine the annual interest rate on an account that earned $120.00 in simple interest after 6 months with a principal deposit of $4,000.00