Hello there is a solution :
Jack is conducting a survey of students in the school. Of the students, 549 prefer vanilla ice cream and 671 prefer chocolate ic
2 answers:
You might be interested in
Answer:
The interest rate for the given investment is 18%.
Step-by-step explanation:
We are given that,
The function representing the investment model is, .
It is required to find the interest rate for the investment.
Since, the function can be re-written as,
i.e.
So, on comparing with the formula for compound interest i.e. , where 'r' is the interest rate.
We have that,
The interest rate for the given investment is 0.18 i.e. 18%.