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October 1, 2014

October 1, 2014

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

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 12:43amAssuming compound interest with a period of 1 year, the annual rate would be 4.3%

- Adv. Math -
**Gyanesh Jain**, Tuesday, April 8, 2008 at 12:43amAnnual Interest Rate =((1600/456)/6 )* 100

= 4.75%

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