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26 February, 05:15

Newton currently has an account balance of $6,225.18. He opened the account 15 years ago

with a deposit of $4,543.11. If the interest compounds daily, what is the interest rate on the

account?

30.3%

7.7%

58.3%

2.1%

+4
Answers (1)
  1. 26 February, 07:08
    0
    Answer: 2.1%

    Step-by-step explanation:

    r = n [ (A/P) ^1/nt - 1
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