Answer:
4.4%
Step-by-step explanation:
A=P\left(1+\frac{r}{n}\right)^{nt}
A=P(1+  
n
r
  
 )  
nt
  
Compound interest formula
A=11700\hspace{35px}P=6900\hspace{35px}t=12\hspace{35px}n=365
A=11700P=6900t=12n=365
Given values
11700=
11700=
\,\,6900\left(1+\frac{r}{365}\right)^{365(12)}
6900(1+  
365
r
  
 )  
365(12)
  
Plug in values
11700=
11700=
\,\,6900\left(1+\frac{r}{365}\right)^{4380}
6900(1+  
365
r
  
 )  
4380
  
Multiply
\frac{11700}{6900}=
6900
11700
  
 =
\,\,\frac{6900\left(1+\frac{r}{365}\right)^{4380}}{6900}
6900
6900(1+  
365
r
  
 )  
4380
  
  
  
Divide by 6900
1.695652174=
1.695652174=
\,\,\left(1+\frac{r}{365}\right)^{4380}
(1+  
365
r
  
 )  
4380
  
\left(1.695652174\right)^{1/4380}=
(1.695652174)  
1/4380
 =
\,\,\left[\left(1+\frac{r}{365}\right)^{4380}\right]^{1/4380}
[(1+  
365
r
  
 )  
4380
 ]  
1/4380
  
Raise both sides to 1/4380 power
1.000120571=
1.000120571=
\,\,1+\frac{r}{365}
1+  
365
r
  
  
-1\phantom{=}
−1=
\,\,-1
−1
Subtract 1
0.000120571=
0.000120571=
\,\,\frac{r}{365}
365
r
  
  
365\left(0.0001206\right)=
365(0.0001206)=
\,\,\left(\frac{r}{365}\right)365
(  
365
r
  
 )365
Multiply by 365
0.044008415=
0.044008415=
\,\,r
r
4.4008415\%=
4.4008415%=
\,\,r
r