Compute the specified quantity. A 6 year bond costs $3,000 and will pay a total of $200 interest over its lifetime. What is its annual interest rate r (as a percent)? (Round your answer to three decimal places.)
Compute the specified quantity. A 6 year bond costs $3,000 and will pay a total of $200 interest over its lifetime. What is its annual interest rate r (as a percent)? (Round your answer to three decimal places.)
Chapter5: Exponential And Logarithmic Functions
Section5.5: Exponential And Logarithmic Models
Problem 3ECP: Estimate the age of a newly discovered fossil for which the ratio of carbon-14 to carbon-12 is...
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Compute the specified quantity.
A 6 year bond costs $3,000 and will pay a total of $200 interest over its lifetime. What is its annual interest rate r (as a percent)? (Round your answer to three decimal places.)
r =
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