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DaniilM [7]
3 years ago
9

A bank account has a beginning balance of $560.00. After 6 months, the balance in the account has increased to $572.60. What int

erest rate is being earned annually on this account?
Mathematics
2 answers:
xz_007 [3.2K]3 years ago
6 0
The formula is
A=p (1+r)^t
A future value 572.6
P present value 560
T time 6/12 =1/2=0.5
R interest rate?
We need to solve for r
R=(A/p)^(1/t)-1
R=(572.6÷560)^(1÷0.5)−1
R=0.0455×100
R=4.55%
Arisa [49]3 years ago
5 0
C is the answer okay bob billy
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