4. To buy the school supplies for the coming school year, you get a summer job at a resort. Suppose you save P4 100.00 of your salary and deposit it into an account that earns simple interest. After 8 months, the balance is P 4, 263.00. What is the annual interest rate?
4. To buy the school supplies for the coming school year, you get a summer job at a resort. Suppose you save P4 100.00 of your salary and deposit it into an account that earns simple interest. After 8 months, the balance is P 4, 263.00. What is the annual interest rate?
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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Transcribed Image Text:4. To buy the school supplies for the coming
school year, you get a summer job at a resort.
Suppose you save P4 100.00 of your salary and
deposit it into an account that earns simple
interest. After 8 months, the balance is
P 4, 263.00. What is the annual interest rate?
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