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Conner invested 1000 dollars in a account 5 years ago. The balance is 1216.55 dollars now. What is the interset rate?

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解答

Connerinvested1000dollarsinaaccount5yearsago.Thebalanceis1216.55dollarsnow.Whatistheintersetrate?

解答

Rate:4.331%
求解步骤
Translate the problem into an equation:1216.55=1000(1+r⋅5)
求解 r,1216.55=1000(1+r⋅5):r=4.331%
Rate:4.331%

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