Ali invests 130 in an account that pays r% interest. After the first year he receives 5

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Ali invests 130 in an account that pays r% interest. After the first year he receives 5 interest. What is the value of r, the rate of interest?

Select one:

a. 3%

b. 3.2%

c. 3.84%

d. 4.2%

Related Book For answer-question

Advanced Accounting

ISBN: 978-1259444951

13th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni

Posted Date: Jul 12, 2024 06:05 PM

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Ali invests 130 in an account that pays r% interest. After the first year he receives 5

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Advanced Accounting

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