Abank account has a beginning balance of $560.00. after 6 months, the balance in the account has increased to $572.60. what interest rate is being earned annually on this account?
a. 045%
b.2.20%
c.2.25%
d.4.5%

step-by-step explanation:

the original amount doesn't ''re just looking for the time it takes for 1/2 of the substance to we have

(1/2) =)     take the ln   of both sides

ln (1/2)   = )   and we can write

ln(1/2) = ) lne     and lne   = 1     so we have

ln(1/2) = -.1092t     divide both sides by -.1092

t = ln(1/2)/-.1092 = about 6.347 days = about 6.3 days (rounded)