Question

Carlos invests $4540 at a rate of r% per year compound interest.
At the end of 10 years he has earned $1328.54 in interest.
Calculate the value of r.

Answer 1

Answer:

Initial balance$1000

interest rate 8%

Term 20yrs

Step-by-step explanation:

The final balance is $4,926.8.The total compound interest is $3,926.8.