Chloe M.
asked • 05/20/21If I were to invest $1000 compounded monthly with ECU, what interest rate would they have to pay for me to have $1123.60? (time: 2 years)
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1 Expert Answer
Mark M. answered • 05/20/21
Tutor
5.0
(278)
Mathematics Teacher - NCLB Highly Qualified
1123.60 = p(1 + r/12)2(12)
Can you solve for r and answer?
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Chloe M.
ECU is a made up name for a bank05/20/21