Question

Help?

Zoey opened a savings account four years ago with a deposit of $935.15. The interest on the account compounds monthly. If Zoey’s current account balance is $1,128.16, what is the interest rate on the account?

0.4%

4.7%

14.2%

18.9%

Answer 1

give me one sec

Answer 2

P x R x T = I
P= principle
R= rate
T = time (in months in this case)
I = interest
you can use this formula to solve for R :)

Answer 3

@carrolldy I'm listening

Answer 4

ouch, thx. well i c how it is

Answer 5

When i solved it i got 18.9%

Answer 6

@HawkCrimson sorry haha I just wanna hear what everyone has to say! no hard feelings ::)