Answered

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Sally invested $1,200 in an account where interest compounded quarterly. After two years, she had $1,351.79 in her account. What was her interest rate?

Sagot :

use the formula

[tex]A=P(1+\frac{r}{t})^{n\cdot t}[/tex]

clear the formula for the rate

[tex]A=P(1+\frac{r}{t})^{n\cdot t}[/tex]

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