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## anonymous one year ago I will give medal, please help!! Kayla currently has an account balance of $2,134.96. She opened the account 12 years ago with a deposit of$1,327.35. If the interest compounds twice a month, what is the interest rate on the account. I just need help with the "compounds twice a month" Do i still use the A=P(1+r/n)^n*t formula?

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1. kropot72

The equation for you to solve for t is: $\large 2134.96=1327.35(1+\frac{r}{24})^{24\times12}$

2. kropot72

...solve for r*

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