jalisse12prince
jalisse12prince jalisse12prince
  • 03-03-2018
  • Mathematics
contestada

My final balance after 48 months was $896.00. If I originally put $800.00 into the bank, what was the interest rate?

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FallingWaterx
FallingWaterx FallingWaterx
  • 03-03-2018

($896.00) = ($800.00)xRx(48/12)

So the rate would be 0.28 or 28% I think.
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