SOLUTION: Janice has a savings account that has increased in value over 12months from $8765 to $9006.04. What is the annual percent interest earned over the 12 month period?
I tried to mi
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Question 859705: Janice has a savings account that has increased in value over 12months from $8765 to $9006.04. What is the annual percent interest earned over the 12 month period?
I tried to mimic the examples shown in my book but it doesn't come out right. I checked my answer in the back of the book but I get something else and its just confusing me now. I would really appreciate some help...
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Since you need the annual interest over one year, the following equation must hold where 
is the annual interest rate expressed as a decimal.
\ =\ 9006.04)
Simply solve for
John
My calculator said it, I believe it, that settles it
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