Mathematics
Mathematics, 25.06.2021 15:20, adahlove

Use the following formula for compound interest. If P dollars is invested at an annual interest rate r (expressed as a decimal) compounded n times yearly, the amount A after t years is given by A= P(1+ r/n)^nt

Required:
What rate of interest is required so that $1000 will yield $1900 after 5 years if the interest rate is compounded monthly?

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Use the following formula for compound interest. If P dollars is invested at an annual interest rate...

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