juhlenbroch0187 juhlenbroch0187

23-01-2021
Mathematics

contestada

The balance, B, in dollars, after T years of an investment that earns interest compounded annually is given by the function B(t) = 1500(1.045)^t .To the nearest hundredth of a percent what is the monthly interest rate for the investment?

A) 4.50%
B) 3.67%
C) 0.37%
D) 69.59%

Respuesta :

brielizabeth123 brielizabeth123

10-02-2022

Answer:

0.37%

Step-by-step explanation:

0.045 ÷ 12 = 0.37%

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