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: O a. 2.87% O b. 4.57% O c. 5.74% O d. 14.3% O e. 4.5% O f. 0.0457% g. 0.045% O h. 0.287%

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: O a. 2.87% O b. 4.57% O c. 5.74% O d. 14.3% O e. 4.5% O f. 0.0457% g. 0.045% O h. 0.287%

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...

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Question

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?
of
estion
Select one:
O a. 2.87%
O b. 4.57%
O c. 5.74%
O d. 14.3%
O e. 4.5%
O f. 0.0457%
g.
0.045%
O h. 0.287%
ENG
INTL

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