shakari opens a saving account with a deposit of $3500. She deposits $500 six months later and $800 nine minths after opening the account. The balance in Shakari's account one year after she opened it is $5012. Assuming that the account grows by compound interest at a constant annual effective interest rate i, find i

Answer rating: 100% (QA)

To solve for the annual effective interest rate i using compound interest we can use the formula for ... View the full answer