• anonymous
Pls Help!! Use the formula B=P(1+(r/n))nt which is used to calculate the final balance of an investment or a loan after being compounded. Following is a list of what each variable represents: B = the final balance P = the principal r = the annual percentage rate t = the time in years in which the principal is compounded n = the number of times the principal is compounded in a year Raul invests $40,000 in an account that is compounded annually. If, after two years, his balance is$45,796, what was the interest rate of the account?
Mathematics
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• anonymous
Pls Help!! Use the formula B=P(1+(r/n))nt which is used to calculate the final balance of an investment or a loan after being compounded. Following is a list of what each variable represents: B = the final balance P = the principal r = the annual percentage rate t = the time in years in which the principal is compounded n = the number of times the principal is compounded in a year Raul invests $40,000 in an account that is compounded annually. If, after two years, his balance is$45,796, what was the interest rate of the account?
Mathematics

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