The annual percentage rate (APR) paid by the account in is
Chapter , Problem 11.6.39(choose chapter or problem)
The annual percentage rate (APR) paid by the account in is , where does not necessarily equal 6%. Define () as the balance of the account after years have elapsed. (For example, 2(0.06) = $3183.60, because, according to Table 11.20, the balance after 2 years is $3183.60 if the APR is 6%.) (a) Find formulas for 5() and 10(). (b) What is APR if the woman in has $10,000 in 5 years?
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