annual interest rate?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:Ali invested 5000 Rials in a saving account that paid quarterly
interest. After 6 years the money had accumulated to 6539.96
Rials. What was the annual interest rate?
Select one:
О а. 0.287%
оь 0.045%
O. 2.87%
O d. 14.3%
O e. 4.57%
O f. 4.5%
O g. 0.0457%
O h. 5.74%
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