makinziesinger makinziesinger

24-03-2021
Mathematics

contestada

6
Find the interest rate on an investment that paid out $1800 after 2 years
when the principal is $18000.

Respuesta :

oadeola19 oadeola19

24-03-2021

Answer:

5 percent per annum

Step-by-step explanation:

interest rate:

interest: $1800

principal: $18000

duration: 2 years

1800/ 18000 * 100

result is 10%

Since interest is 10% in 2 years, 10% / 2

interest is 5% per year.

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