Answer:
The rate is 2% per year.
Step-by-step explanation:
<em>It is given that sum to be $1200000.</em>
<em>The interest per year to be received is $24000.</em>
<em>Let the rate of interest be "r".</em>
The amount interest is given by the formula,



Thus the rate of interest is given by 2% per year.
<span><span><span>−t</span>4</span>=<span><span>(<span>−3</span>)</span><span>(3.141593)</span></span></span>Step 1: Simplify both sides of the equation.<span><span><span><span>−1</span>4</span>t</span>=<span>−9.424778</span></span>Step 2: Multiply both sides by 4/(-1).<span><span><span>(<span>4<span>−1</span></span>)</span>*<span>(<span><span><span>−1</span>4</span>t</span>)</span></span>=<span><span>(<span>4<span>−1</span></span>)</span>*<span>(<span>−9.424778</span>)</span></span></span><span>t=37.699112</span>
<span>- - Star to simplify both sides of the equation.
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<span>- - Now you have top subtract 18 from both sides.
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- - Solve:

<span>- - And divide both sides by -4.
- - Solve:
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