Asked by lijm

Maxwell purchased $15,000 worth of 52-week T-Bills for $14,650. What will the rate of return be on his investment?

Did I set the equation right?
A= 15,000 P=14,650 t=52 weeks r=?
15,000=14650(1+r*52)
Answered by oobleck
looks good, if you want the weekly interest rate.
You sure you don't want the annual interest rate?
Answered by lijm
How do I set it up for the annual rate?
Answered by oobleck
come on -- just multiply by 52 weeks in a year, right?
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