silentADoll silentADoll

18-03-2017
Mathematics

contestada

Jake Winters plans to invest $7,400.
Find the interest rate required for the fund to grow to $7,844 in 8 months.

9%

5.7 %

8.5%

6%

Respuesta :

Aliwohaish12 Aliwohaish12

18-03-2017

7844=7400(1+(8/12)r)
Solve for r
R=0.09*100=9%

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