Business, 13.08.2020 20:01 maxicanofb0011
Jerry deposited $10,000 in a bank account, and 10 years later he closes out the account, which is worth $18,000. The annual rate of interest that Jerry has earned over the 10 years is closest to:
Answers: 3
![r = [(\frac{A}{P} )^\frac{1}{t} - 1]](/tpl/images/0721/6428/a6e7f.png)
![r = [(\frac{18000}{10000} )^\frac{1}{10} - 1]\\\\r = [(1.8 )^\frac{1}{10} - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\r={1.06054-1}\\\\r= 0.06054](/tpl/images/0721/6428/ec463.png)
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Jerry deposited $10,000 in a bank account, and 10 years later he closes out the account, which is wo...
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