Ask your own question, for FREE!
Mathematics 12 Online
OpenStudy (anonymous):

In 2007, Rachel borrowed $800 from a bank; she has repaid $2,700 after three years. At what rate of compound interest did the bank lend money to Rachel? (Interest is compounded annually). Hint: A = P (1 + r)n A – amount of money paid after n years P – principal amount r – interest rate n – number of years

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!