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Svet_ta [14]
4 years ago
13

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

Mathematics
1 answer:
Kaylis [27]4 years ago
6 0
Interest = Investment x (interest rate)^time periods

456 = 1600(IR)⁶
IR = 0.811
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steps below

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