Mathematics · Interest
An amount deposited for 2 years at a simple interest rate of 10.5% will yield the same interest as if it were deposited for compound interest for 2 years (compounded annually) if the rate of compound interest is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 110.50%
- 210.25%
- 310.00%✓
- 49.75%
Correct answer
10.00%
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