lyricalexis lyricalexis

21-12-2020
Mathematics

contestada

Angela currently has an account balance of &4,298.55. She opened the account 15 years ago, with a deposit of $1,987.22. If the interest compounds monthly, what is the interest rate on the account?

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Eddie1Wan Eddie1Wan

21-12-2020

Answer:

The interest rate is 5.278%

Step-by-step explanation:

4298.55=1987.22(1+r/100)^15

r=5.278%

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