Question: can someone show me the work the correct answer was 4.3 Find the annual simple interest rate equivalent to an annual simple discount rate of
Find the annual simple interest rate equivalent to an annual simple discount rate of 3.4% over a term of 6 years. Round your answer to the nearest tenth of a percent. 4.3 margin of error +/0.3 Hint: To solve this problem, remember that we can write an equivalency between R and dr. Two new formulas were created from this equivalency and one of them will be used here
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