Killuaisfast Killuaisfast

06-10-2021
Mathematics

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You invest $1200 into an account paying 7% interest compounded quarterly. Determine the annual interest rate to the nearest hundredth of a percent

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zurcherkylie zurcherkylie

06-10-2021

171 percent
1200 divided by 7 is 172.428571. rounding up to the nearest hundredth would be 171

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