SOLUTION: what is the amount of interest earned for one month on 15632.16 at a rate of 10%?
I am not coming up with any of the multiple choice answers on my test....my email
address is mei
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Question 980961: what is the amount of interest earned for one month on 15632.16 at a rate of 10%?
I am not coming up with any of the multiple choice answers on my test....my email
address is meinga57@aol.com. Thanks for your help. Sharon
Answer by josgarithmetic(39615) (Show Source): You can put this solution on YOUR website!
You did not say anything about compounding periods...
The 10% rate would be cut into twelve equal parts to give for one month.
, the rate as A FRACTION.
, as the fraction.
The best that can be found using just the information you give is
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