I will give medal, please help!!
Kayla currently has an account balance of $2,134.96. She opened the account 12 years ago with a deposit of $1,327.35. If the interest compounds twice a month, what is the interest rate on the account.
I just need help with the "compounds twice a month" Do i still use the A=P(1+r/n)^n*t formula?

Question

I will give medal, please help!! 
Kayla currently has an account balance of $2,134.96. She opened the account 12 years ago with a deposit of $1,327.35. If the interest compounds twice a month, what is the interest rate on the account. 
I just need help with the "compounds twice a month" Do i still use the A=P(1+r/n)^n*t formula?

kropot72 · Answer

The equation for you to solve for t is:
$$\large 2134.96=1327.35(1+\frac{r}{24})^{24\times12}$$

kropot72 · Answer

...solve for r*