Tim invested $5,000 in a savings account for 6 years. he earned $550 over that fine period. what is the interest rate?

1.75 %  

Step-by-step explanation:

The formula for the future value (FV) of an investment is

FV =PV(1 + r/n)^nt

If the interest is calculated once a year, n = 1, and the formula reduces to

     FV = PV(1 +r)^t

5550 = 5000(1 + r)⁶     Divide both sides by 5000

 1.110 = (1+r)^6              Take the sixth root of each side

 1 + r = 1.0175               Subtract 1 from each side

      r = 0.0175               Convert to percent

     r = 1.75 %

The interest rate is 1.75 %.

the answer is d. (1.2, -4.7) on edgn

hope this !

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