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rjkz [21]
3 years ago
10

NEED HELP ASAP!!!

Mathematics
1 answer:
inn [45]3 years ago
5 0

Answer:

9%

Step-by-step explanation:

You are going to want to use a modified compound interest formula, as shown below. This version of the compound interest formula is what you use to solve for the interest rate.

r = n[(\frac{A}{P})^{1/nt}-1]

<em>r = interest rate (decimal)</em>

<em>n = numbers of times compounded (annually)</em>

<em>A = total amount</em>

<em>P = principal amount</em>

<em>t = time (years)</em>

Now, lets plug in the values:

r = 3[(\frac{1,780.74}{1,046})^{1/(3)6}-1]

r = .09

r = 9% interest rate

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