document.write( "Question 1127163: Jean invested a sum of money, compounded quarterly. After 3 years, her investment grew by 60%. FInd the interest rate per annum. \n" ); document.write( "

Algebra.Com's Answer #743617 by ikleyn(52790) $\"\"$ $\"About$

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document.write( " = 1.6\r\n" );
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document.write( " = 1.6\r\n" );
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document.write( " =  = 1.04\r\n" );
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document.write( " = 1.04 - 1 = 0.04\r\n" );
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document.write( "r = 4*0.04 = 0.16.\r\n" );
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document.write( "Answer.  Interest rate per annum is  0.16,  or  16%.\r\n" );
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