Answer
$2.4\%$
Work Step by Step
Given $P=65000, A=65783.91, n=12, t=0.5\ yr$, we have:
$A=P(1+\frac{r}{n})^{nt}\longrightarrow 65783.91=65000(1+\frac{r}{12})^{12(0.5)} \longrightarrow r\approx 0.024 $ or $2.4\%$
Precalculus (6th Edition)
by Lial, Margaret L.; Hornsby, John; Schneider, David I.; Daniels, Callie
Published by
Pearson
ISBN 10:
013421742X
ISBN 13:
978-0-13421-742-0
Chapter 4 - Inverse, Exponential, and Logarithmic Functions - 4.2 Exponential Functions - 4.2 Exercises - Page 433: 102
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