Over a 10 year period, an original principal of $4500 accumulated to $6925 in an account in which interest was compounded semian

Question

3 years ago

10

nually. Determine the effective annual rate of interest (rounded to 2 decimal places)

1 answer:

forsale [732] · Answer 1 · 2022-03-16T20:22:31+03:00

8 0

Answer:

Determine the effective annual rate of interest (rounded to 2 decimal places)

% anual 4,36%

Step-by-step explanation:

Monthly % anual % semiannualy N Monthly Exponentiation VF

4500 4,36% 2,18% 20 4500 1,54 6.925,41