2. find the interest rate (to the nearest hundredth) on a $5800 certificate of deposit if the interest paid in 9 months is $150.37.

The interest rate is 16.8%.

Step-by-step explanation:

Given : On a $5800 Certificate of Deposit if the interest paid in 9 months is $150.37.

To find : The interest rate?

Solution :

The formula to find the interest rate is

Where, A is the amount A=P+I

I is the interest I=$150.37

P is the principal P=$5800

t is time t=9 months

In year,

r is the interest rate

Substitute in the formula,

Taking log both side,

Taking exponential both side,

Multiply it by 12,

Therefore, The interest rate is 16.8%.

there is no question content here, but you for the free points! : d