Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What rate of interest is required for a deposit of $ 3 5 2 6 to earn $ 8 4 . 2 6 in interest

What rate of interest is required for a deposit of $3526 to earn $84.26 in interest in four months? Assume this investment earns simple interest.
Enter your answer as a percent, and round the percent to two decimal places.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions