I think the answer is B! I hope that helps!!!!!
BRAINLY would be appreciated❤️
Answer:
effective annual rate is 6.16 %
Step-by-step explanation:
given data
rate = 6 % = 0.06
time 5 year = 10 semi annually
to find out
effective annual rate
solution
we know formula for annual effective rate of interest is
rate of interest =
-1
put here all value
rate of interest =
-1
rate of interest =
-1
rate of interest = 0.061646
so effective annual rate is 6.16 %
What you would do is you would keep subtracting (I recommend a calculator for this task) from both accounts until you get an equal amount for each. You would also have to record this down that way you know each time what you got. (And please do not put the calculator part). Really hope this helps!!!
Both are related because u can multiply the answer to find a devision problem and you can divide a answer to find ur multiplication problem and find ur answer hope this helps