Homework Help: Adv. Math

Posted by Kenya on Monday, April 7, 2008 at 11:02pm.

Ok my last question for this Interest stuff Woo! Ok this is the question:

What is the annual interest rate if $1600 is invested for 6 years and $456 in interest is earned?

Adv. Math - FredR, Tuesday, April 8, 2008 at 12:43am
Assuming compound interest with a period of 1 year, the annual rate would be 4.3%
Adv. Math - Gyanesh Jain, Tuesday, April 8, 2008 at 12:43am
Annual Interest Rate =((1600/456)/6 )* 100
= 4.75%

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