SOLUTION: Suppose that you have a bank account with a balance of $5000 at the beginning of the year and $5100 at the end of the year. What is the APR (Annual Percentage Rate) on this accoun

Question 541840: Suppose that you have a bank account with a balance of $5000 at the beginning of the year and $5100 at the end of the year. What is the APR (Annual Percentage Rate) on this account?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
Suppose that you have a bank account with a balance of $5000 at the beginning of the year and $5100 at the end of the year. What is the APR (Annual Percentage Rate) on this account?
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100/5000 = 0.02 = 2%
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