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Sagot :
Answer:
11.51 %
Explanation:
The computation of the interest rate is shown below:
As we know that
Amount = P (1 + rate)^number of years
$325,000 = $51,000 (1+r)^17
(1+r)^17 = $325,000 ÷ $51,000
(1+r)^17 = 6.372549
(1+r) = (6.372549)^1 ÷ 17
1 + r = 1.115097
r = 1.115097 - 1
r = 0.115097
= 11.51 %
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