Question

Final Amount 15,400

Answer 1

Answer:

How do I calculate interest rate on investment?

Calculate Total Amount Accrued (Principal + Interest), solve for A. A = P(1 + rt)

Calculate Principal Amount, solve for P. P = A / (1 + rt)

Calculate rate of interest in decimal, solve for r. r = (1/t)(A/P - 1)

Calculate rate of interest in percent. ...

Calculate time, solve for t.

Step-by-step explanation:

Hope this helps.