Identify the percent of change is an increase or decrease. then find the percent of change. round to the nearest tenth of the pe
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Hello!
Out equation is:
A= 6000
P=5000
N=1
T=5
R= What we are trying to find
This means we will have
Divide both sides by 5000:
Move the power to the other side by rooting both sides:
Subtract 1 from both sides:
Now we just need to calculate: R = 0.03713728...
I don't know how many decimal places you can have, but I will round to 2. This will give you an Interest Rate of 3.71%.
I hope this helps! :)