The annual percentage rate (APR) paid by the account in is r, where r does not
Chapter 11, Problem 11.6.39(choose chapter or problem)
The annual percentage rate (APR) paid by the account in is r, where r does not necessarily equal 6%. Define pn(r) as the balance of the account after n years have elapsed. (For example, p2(0.06) = $3183.60, because, according to Table 11.22, the balance after 2 years is $3183.60 if the APR is 6%.) (a) Find formulas for p5(r) and p10(r). (b) What is APR if the woman in has $10,000 in 5 years?
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