A bank account has an initial deposit of $18,000. After 5 years, the bank account
1 answer:
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To find the answer, we will have to find the percentage of $273 to $ 3500, and we can use the formula:
In this case:
273/3500 x 100%
=39/500 x 100%
=7.8%
Therefore the annual interest rate would be 7.8%.
Hope it helps!