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Given the equation A=250(1.1)t, you can determine that the interest is compounded annually and the interest rate is 10%. Suppose the interest rate were to change to being compounded quarterly. Rewrite the equation to find the new interest rate that would keep A and P the same.

What is the approximate new interest rate?

Convert your answer to a percentage, round it to the nearest tenth, and enter it in the space provided, like this: 42.53%

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4 answers

  1. The answer to this problem is 9.6

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  2. Can someone tell me the answer already. Why give the equation but not the answer.

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  3. A = 250(1 + 0.1/4)^(4t)

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  4. i agree anon

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